Abstract: Objective: To explore the effects of polygonatum sibiricum polysaccharide (PSP) with different concentrations on the proliferation and osteogenic differentiation of stem cells from human exfoliated deciduous teeth dental pulp (SHEDs). Methods: SHEDs were isolated and cultured. Cells surface markers and osteogenic differentiation potential were identified by flow cytometry and alizarin red staining. After treated with different concentrations of PSP, the proliferation of SHEDs was detected by CCK-8 method, the ALP activity of SHEDs was detected by calcium cobalt staining and alkaline phosphatase (ALP) kit, and the expression of osteogenic proteins was detected by Western blot. Results: The results of flow cytometry and alizarin red staining showed that the obtained cells were SHEDs with osteogenic differentiationability. Compared with the control group, each concentration group had no significant effect on the proliferation of SHEDs within 24, 48 and 72 hours (P>0.05), and the 25 mg/L PSP group had the most significant effect on ALP activity (P<0.001), the protein expressions of runt-related transcription factor 2 (Runx2) and osteocalcin (OCN) in 12.5 and 25 mg/L PSP groups were significantly up-regulated, the 25 mg/L PSP group had the most significant effect on the expression of Runx2 (P<0.001). Conclusions: PSP had no significant effect on the proliferation of SHEDs and can promote the osteogenic differentiation of SHEDs.