This research was conducted to determine the anatomical structure and the optimum water content (WC) during seed germination of Phyllostachys edulis (Carrière) J. Houz. that could be used as the foundation for bamboo seed production, expansion breeding, and research. Fresh, air-dried, and seeds frozen for three and six months were used in this study, and variations in germination percentage, germination energy, vitality index, germination time, respiratory rate, and biomass characteristics at different storage times were analyzed, and the anatomical structure in germination process was assessed. The results indicated that: (1) seed germination of Ph. edulis consists of three stages: PS: cell initiation; MS: radicle and germ growth; and FS: leaf formation; (2) the optimum seed WC of Ph. edulis using different storage times was 12.37%, after moderate drying of fresh seeds, seed WC decreased, germination rate increased, respiration rate decreased, and seed vigor increased. However, with the extension of storage time, seed WC decreased, and the seed germination rate, germination potential, and vigor index decreased; (3) seed WC of Ph. edulis largely influences vitality index and respiratory; and (4) the respiratory rate of fresh seeds is high during germination, respiratory rate trend of air-dried, and seeds frozen for three and six months during seed germination were low → high → low → high, and is related to changes in anatomical structure during germination.