Taking the seedlings of Stachys lanata as test materials, and the normal water supply as control, we studied the influence of different water stress(waterflooding, waterlogging, moderate drought and severe drought) on the morphological and physiological indexes. The results showed that: (1) under waterflooding treatment for three days, the leaves gradually necrosis and root died, but adventitious roots germinated at the base of stem. Under waterlogging treatment, there was no obvious change in the aboveground state, and there were some brownish root tips in the root system. Leaves wilted under drought treatment for seven days, and the degree of leaf wilting in severe drought treatment was higher than that in moderate drought treatment. After relief, except that waterflooding treatment resumed growth on the 13th day, the other treatments plants returned to normal growth on the second day. (2) The relative water content in leaf and root vitality both decreased under the waterflooding, but no significant changes were found in waterlogging, while the former decreased rapidly and the latter increased in drought treatment. (3) Under the conditions of water stress, the relative conductance and MDA content in leaf and root were both significantly higher than that of the control. The damage of the root was more serious than that of the leaf, and the damage of waterflooding stress was the most serious. (4) Under the waterflooding treatment, the contents of soluble protein decreased, soluble sugar and free proline accumulated continuously with the extension of stress time, the content of soluble sugar, soluble protein and free proline in leaf and root under waterlogging and drought treatment all increased. It can be seen that S. lanata had strong osmotic adjustment ability. After the release of waterlogging and drought stress, the damage of membrane peroxidation was alleviated rapidly and then return to normal growth. Although S. lanata could not lived under waterflooding for long time, but could normally growth under waterlogging, while had a good tolerance to drought stress. So, it could be used in the regions where the water content changes greatly in the waterfront drop zone and so on.