To rationally utilize Morchella germplasm resources, this study investigated 13 phenotypic traits in 231 Chinese Morchella germplasm accessions. Accessions were grouped by cap color traits and analyzed using four sampling methods (simple proportion method, logarithmic proportion method, square root proportion method, and diversity proportion method) five sampling sizes (10%, 15%, 20%, 25%, and 30%), two genetic distances (Euclidean distance and Mahalanobis distance), and four clustering methods (class-means, minimum distance, maximum distance, and sum of squared deviations) to explore optimal sampling strategies and select core collection. Core collection for the optimal sampling strategy was selected based on six indicators: percentage difference in mean, percentage difference in variance, range conformity rate, coefficient of variation change rate, phenotypic frequency variance, and phenotypic retention ratio. Phenotypic traits of the core germplasm were evaluated using genetic diversity eigenvalues, t-tests, F-tests, and systematic clustering, with confirmation via principal component analysis. Results indicated that the logarithmic ratio method yielded optimal sampling, with 15% representing the optimal sample size. Euclidean distance outperformed Mahalanobis distance, and the maximum distance method proved optimal for clustering. Ultimately, 34 Morchella germplasm resources were selected, accounting for 14.72% of the total germplasm (original germplasm). Under the P < 0.05 probability threshold, the mean, standard deviation, coefficient of variation, and genetic diversity indices of the core collection showed no significant differences from the original germplasm. Cluster analysis revealed consistent grouping of germplasm resources and phenotypic trait clusters between the core and original germplasm. In principal component analysis, the eigenvalues and cumulative contribution rates of the first four principal components were higher for the core collection than for the original germplasm. This indicates that the core collection eliminated most genetic redundancy while retaining the genetic diversity of the original germplasm, demonstrating its representative selection. This study provides a reference basis for the effective utilization and germplasm innovation of Morchella germplasm resources.