The peony is a flowering plant.

Peony may also refer to:

• HMS Peony, the name of two Royal Navy ships
• USS Peony (1864), a Union Navy steamer acquired near the end of the American Civil War
• Peony (novel), by Pearl S. Buck
• Peony, one of nine chimpanzees used in a language experiment detailed in the book, The Mind of an Ape
• Peony Star (a name for WR 102ka from the Peony Nebula in which it is embedded), one of several candidates for the most luminous known star in the Milky Way
  • Peony Nebula, whose name comes from its appearance