This study was carried out in a 11-year-old open-pollinated progeny test plantation of Pinus elliottii in Pengchang forest farm of Jingmen City. The genetic parameters of growth, resin production and resin quality were estimated and the genetic variation were analysed to provide the basis for genetic improvement of P. elliottii in Hubei Province. The results showed that there were extremely significant difference in growth (DBH, height and volume), significant difference in resin production and significant or extremely significant difference in turpentine content and other seven kinds of resin components within different families. This means that it has a great selection potential within these families. The family heritability and individual heritability of growth and resin production were 0.46-0.61 and 0.20-0.28 respectively indicating that the variation were controlled genetically at a high level. The heritability of resin components changes greatly, and the family heritability and individual heritability were 0.10-0.86 and 0.02-0.93 respectively. Correlations between growth and resin production were significant positive proving the possibility of achieving high yield in both growth and resin production. Turpentine content was not significantly related to the growth and resin production indicating that the selection of turpentine content should be on the basis of the growth and resin production selection. Two superior families were selected for the popularization and application since the genetic gain of volume and resin production of superior families were 48.00%and 27.45% improvement compared with the main variety of P. elliottii in Hubei Province.