Abstract: This study evaluated 17 edible–ornamental lily accessions by systematically assessing their vegetative growth dynamics and floral ornamental traits under uniform cultivation conditions. A comprehensive analysis of phenotypic variation and integrated utilization potential was performed using multivariate statistical approaches, including phenotypic diversity indices, correlation analysis, hierarchical cluster analysis, and principal component analysis (PCA). Results revealed substantial phenotypic diversity among the accessions. Key floral traits—including bud length, petal length, flower diameter, stamen length, and pistil length—exhibited extremely significant positive correlations (P < 0.01), indicating coordinated development of floral organs. Cluster analysis based on 14 phenotypic traits classified the 17 accessions into three distinct groups, which differed markedly in plant architecture and floral morphology, suggesting their suitability for diverse horticultural applications such as cut-flower production, perennial borders, or ornamental gardens. PCA extracted three principal components accounting for 82.13% of the total variance; the first component was primarily associated with floral size traits (petal length, stamen length, pistil length, and bud length). A weighted comprehensive evaluation derived from PCA scores identified Lilium regale, L. taliense, L. leucanthum, L. henryi, and L. brownii var. viridulum as the top-performing accessions in terms of ornamental quality and overall performance. This work provides a robust scientific basis for the effective conservation, landscape deployment, and targeted breeding of native Chinese edible–ornamental lily germplasm resources.