Codonopsis lanceolata (S. et Z.) Trautv. is mainly cultivated in Korea and China as a medicinal crop. C. lanceolata is difficult to produce plug seedlings in the summer, because C. lanceolata has a low germination rate and is vulnerable to high temperatures. Cold treatment is effective in breaking dormancy of seeds and increasing the germination rate. Shading cultivation can control the solar irradiance received by plants and reduce the damage by high temperatures and strong light. This study was conducted to examine the appropriate cold treatment period for the improving germination of C. lanceolata, and shading level during the summer seedling period. Cold treatment experiments were conducted for 0 (control), 1, 2, 3, and 4 weeks at 4°C before sowing. In the shading experiment, C. lanceolata was grown for 45 days with 0 (non-treatment), 45, 75% shading levels. Cold treatment for one week significantly improved the germination energy. The plant height, leaf area, and fresh and dry weights of C. lanceolata seedlings were significantly increased under the 45% shading level. Total root length, root surface area, and the number of root tips were significantly higher in shading treatment (45 and 75%) than in non-treatment. The C. lanceolata seedling’s compactness and Dickson’s quality index were the highest at 45% shading level. Therefore, these results recommended sowing C. lanceolata after cold treatment for one week at 4°C, and 45% shading level could stably culture C. lanceolata plug seedlings during the high temperature period.