In order to develop a natural tobacco flavor, the main volatile components in Cortex Moutan extract were identified by SPME-GC/MS, and the influence of SPME conditions on determination results was investigated. The results showed that: 1) the proper SPME conditions were that extract samples were equilibrated at 85 °C for 30 minutes, and headspace micro-extraction with poly (dimethyl-siloxane) PDMS fiber of 100 μm was carried out at 85 °C for 45 min; 2) 33 volatile aroma components were identified, among which paeonol was a major component with a relative content of 73.77 %, and followed by β-sesquiphellandrene (2.65 %), α-curcumene (1.83 %) and camphor (1.20 %). In addition, there were long link terpenes, terpenols, terpenones, cyclic ether oxides, esters and acids as well.