Styrax japonicus is a small ornamental tree with medicinal values, although its flowering period is short. To date, information about the morphological and physiological characteristics of the petals during the flowering period is limited. In this study, we observed the structure of the petals at the full flowering stage with a scanning electron microscope and detected the contents of nutrients, minerals, and endogenous hormones and the activities of enzymes at different flowering stages. The results showed that the content of soluble sugar exhibited an ‘increase-decrease’ trend, whereas the contents of soluble protein, nitrogen (N), phosphorus (P), and abscisic acid (ABA) showed a ‘decrease-increase’ pattern. The content of starch descended continuously, but the contents of potassium (K), gibberellic acid (GA3), indoleacetic acid (IAA), and malondialdehyde (MDA) ascended continuously. The activities of peroxidase (POD) and superoxide dismutase (SOD) first rose and then declined during the flowering period. Higher contents of soluble sugar, N, K, and IAA promoted S. japonicus flowering; meanwhile, lower contents of starch, soluble protein, P, and GA3 in addition to the lower activity of SOD might be some of the causes of the short flowering period. This work will serve as the foundation for a scientific technique to utilize the flowers and extend the flowering period in S. japonicus.