As a unique woody oil crop in China, Camellia oleifera Abel. germplasm resources show significant genetic diversity in Ya’an City. This study measured 60 phenotypic traits (32 quantitative, 28 qualitative) of 302 accessions to analyze phenotypic variation, establish a classification system, and screen high-yield, high-oil germplasms. The phenotypic diversity index for fruit (H’ = 1.36–1.44) was significantly higher than for leaf (H’ = 1.31) and flower (H’ < 1), indicating genetic diversity concentrated in reproductive traits, suggesting potential genetic variability in these traits. Fruit quantitative traits (e.g., single fruit weight CV = 35.37%, fresh seed weight CV = 38.93%) showed high genetic dispersion. Principal component analysis confirmed the fruit factor and economic factor as main phenotypic differentiation drivers. Quantitative traits were classified morphologically, and correlation analysis integrated them into 13 key indicators classified using LSD and range methods. Finally, TOPSIS evaluation selected 10 excellent germplasms like TQ122 and TQ49, with fruit weight, fresh seed yield, and kernel oil content significantly exceeding the population average. This study provides data for C. oleifera DUS test guidelines and proposes a multi-trait breeding strategy, supporting high-yield variety selection and germplasm resource protection.