Asparagus cochinchinensis is a member of the Asparagaceae family whose medicinal part is the dried root tuber. The distribution of A. cochinchinensis and its secondary metabolites are closely associated with environmental factors, such as climate and soil properties. By establishing and optimizing a maximum entropy model, we analyzed and predicted the distribution pattern and migration direction of suitable habitats for A. cochinchinensis and determined the main environmental factors affecting the accumulation of secondary metabolites. Under current climatic conditions, the area of suitable habitats for A. cochinchinensis (208.38 × 104 km2) accounts for 21.71% of the land area of China. Under future climate scenarios, the total area of suitable habitats hardly changes. The area of highly suitable habitats significantly decreases under the SSP1-RCP2.6 and SSP3-RCP7 scenarios but eventually increases under the SSP5-RCP8.5 scenario, which indicates that A. cochinchinensis might adapt better to a high-carbon-emissions scenario. Under different climate scenarios, low-impact areas mainly occur in southern China. Highly suitable habitats primarily occur in the southeastern Sichuan Basin, northern Guangxi, eastern Guizhou, and western Hunan. The total contents of saponins and polysaccharides in A. cochinchinensis were significantly, but oppositely, correlated with temperature, precipitation, and other factors. This study has identified environmental factors affecting the growth and quality of A. cochinchinensis, which has guiding significance for resource conservation and site selection for large-scale cultivation.