Lilium lancifolium is an important edible starch plant that is widely cultivated in China. Bulbs and bulbils are starch storage organs of L. lancifolium found below and above ground. To further utilize lily starch resources, starches were extracted from bulbs and bulbils of L. lancifolium. The morphological, structural, thermal, hydrolytic, and in vitro digestive properties of these starches were systematically investigated and compared. The bulb and bulbil starches differed in their amylose content and granule size, as well as their shape and surface morphologies. Compared with bulbil starch, bulb starch had a relatively higher degree of crystallinity. The ordered structure in the external granule region of bulb starch was similar to that of bulbil starch. In addition, bulb starch demonstrated significantly higher solubility, onset temperature, and gelatinization enthalpy than bulbil starch. When hydrolyzed by α‐amylase and hydrochloric acid, bulb starch exhibited stronger resistance to enzymolysis but had a higher degree of acidolysis than bulbil starch. In vitro digestion showed that native and gelatinized bulb starches contained lower slowly digestible starch (SDS) content and higher resistant starch (RS) content than bulbil starch. In retrograded starch, bulbs and bulbils had similar amounts of rapidly digestible starch, SDS, and RS. This study sufficiently described the morphological and physicochemical properties of bulb and bulbil starches from L. lancifolium. This information is crucial to the future application of these starches in the food and nonfood industries.