Seabuckthorn seedlings were treated under different water supply for a period of time. Leaf chlorophyll content, MDA, POD, SOD and stomatal conductance were determined to study physiological characteristics response of Northern Shaanxi Seabuckthorn to drought stress. The results showed that as drought stress increased, the MDA content of Hippophae rhamnoides seedlings increased significantly; chlorophyll content decreased; POD and SOD activity increased at first then decreased, and the stomatal opening level was inhibited by water stress.