The main chemical components， bioactive ingredients， metabolites， and in vitro functional activities of five Polygonatum varieties including Chongyang Duohua Polygonatum （CYD）， Chongyang Jitou Polygonatum（CYJ）， Luotian Duohua Polygonatum（LTD）， Shiyan Zigan Jitou Polygonatum（SYJ）， and Enshi Huang'en No.1（ESH） were systematically evaluated to elucidate the characteristics of quality and differential utilization value of Polygonatum germplasm resources in Hubei Province. The results showed that five varieties had nutritional characteristics of low starch （0.33%?1.49%）， low fat （0.36%?0.76%）， low reducing sugar （0.97%?5.44%）， and high protein （9.03%?10.47%）. The content of alcohol-soluble extracts， polysaccharides， and saponins was 73.34%?81.86%， 5.05%?8.99%， and 3.17%?10.97%， respectively. Among them， the content of polysaccharide in CYJ and ESH did not meet the requirements of the pharmacopoeia （7%）， while the content of saponin in ESH was much higher than the values reported in the literature. CYD and LTD were enriched in polysaccharides， flavonoids and phenolic acids， while ESH and CYJ had high expression of steroidal saponins， presenting two different metabolic pathways of accumulating polysaccharide-phenolic acid and saponin-lipid. The content of heavy metals and the rate of hemolysis in all samples were in line with safety standards. The antioxidant activity in the five varieties was dominated by hydrophilic components， with LTD performing the best. The water extract of CYD had the strongest inhibitory activity against α-glucosidase （IC₅₀=0.61 mg/mL）， while the alcohol extract of CYD had the strongest inhibitory activity against α-amylase （IC₅₀=1.30 mg/mL）， and these functional activities were higher than some values reported in the literature. It is indicated that the germplasm resources of Polygonatum in Hubei Province are rich and have diverse functions. It will provide a theoretical basis for breeding variety and developing product of Polygonatum in Hubei Province.