Plant communities can undergo drastic changes in their composition if the ecosystem is severely altered by human actions or climate change. These changes endanger any vulnerable species, mainly if it lives in a small area, as is the case of Picris willkommii (Schultz Bip.) Nyman. Therefore, it is essential to know how an ecosystem alteration could affect the seasonal pattern of the life cycle, seed production, germination time, as well as both plant emergence and development. During three consecutive years, the growth phenology and seed morpho-physiological traits of Picris willkommii were assessed, as well as the environmental factors that affect them (light, temperature, substrate). Under natural conditions, germination is in early autumn (15–25 °C air temperature), flowering is in spring, and seed maturation in late spring. The species produces two types of seeds differentiated in the degree of dormancy and other morpho–physiological traits, which contributes to the dispersal and spreading capacity; it prefers fine-textured limestone substrates with high N and P availability; it does not tolerate frosts below −5 °C; and it is able to acclimatize to changing environmental conditions, but there is a risk of being replaced by other more aggressive species. All of this is useful for species conservation programs.