Panax notoginseng is a valuable traditional medicine in China, which could stanch the blood, disperse gore and reduce the pain caused by blood diseases. Understanding the accumulation dynamics of elements during the growth of PN is conducive to guiding rational fertilization in production. In this study, 17 elements (B, Na, Mg, Al, P, K, Ca, Cr, Mn, Fe, Co, Ni, Cu, Zn, Mo, Cd, and Pb) in PN from different periods were determined by ICP-OES and ICP-MS. The result showed that the change of element accumulation in different periods was consistent with the growth rule of PN. Element content in leaves and roots differed during the same period. Therefore, according to the changes of element content in different periods, scientific fertilization can be carried out to improve the quality and yield of PN. Besides, to study the accumulation characteristics of Panax in the same place, 17 elements in P. vietnamensis, P. stipuleanatus and P. bipinnatifidus were also determined by ICP-OES and ICP-MS. The result showed that P. vietnamensis and P. stipuleanatus exhibited more similar in elements than the P. notoginseng and P. bipinnatifidus. HCA and PCA analysis found that different Panax species can be distinguished based on element content.