Abstract: In order to clarify the effects of cutting time on yield, nutrient composition, over-wintering rate and sustainable utilization of Medicago varia, the growth characteristics, hay yield, nutritional quality and over-wintering rate of Medicago varia Martin. cv. Caoyuan No.3 in the year of planting with different cutting time treatments were determined and analyzed. The results showed that the cutting time had no significant effect on the average plant height and growth rate of Medicago varia Martin. cv. Caoyuan No.3 in the year of planting, but had significant effects on the stem-leaf ratio, fresh-dry ratio and over-wintering rate （P〈0.05）. The highest stem-leaf ratio and the over-wintering rate were obtained in once cutting, which were 0.98% and 95%, respectively; higher average plant height, growth rate and fresh-dry ratio were observed under twice cutting treatment, which were 59 cm, 1.30 cm/d and 3.76, respectively; the highest whole-year hay yield was obtained in twice cutting, which was 5 211 kg/hm^2; the average value of crude protein content and relative feed value was higher with twice cutting treatment, which were 20.5% and 140, respectively; the average value of acid washing fiber content and neutral washing fiber content was lower with twice cutting treatment, which were 35.9% and 40.6%, respectively. Considering the growth characteristics, hay yield, nutrient quality and over-wintering rate comprehensively, one cutting time in the year of planting was recommended for Medicago varia Martin. cv. Caoyuan No.3.