TThe 1st generation of waste padding of pig fermentation bed (WD) was used as the main material, added with vermiculite or vinegar residue or their mixture to prepare the compound substrates with different formulas. Then physicochemical properties (unit weight, total porosity, water/air ratio, pH, EC, total nitrogen, alkali-hydrolyzale nitrogen, organic matter, etc.) of these substrates and their effects on plant growth, photosynthesis, yield and fruit quality of peppers were studied. The results showed that physical characteristics of T8 treatment (WD︰vinegar residue︰vermiculite = 9︰2︰6 ) were all within the ranges of ideal substrate. T7 (WD : vinegar residue︰vermiculite = 9︰4︰4), T8, and T9 (WD︰vermiculite = 9︰5) treatments had lower total nitrogen, available nitrogen, available potassium contents and EC values, but had higher total phosphorus, available phosphorus contents and PH values. The plant heights and stem diameters of pepper of T7, T8 and T9 treatments were significantly higher than those of other treatments. T8 treatment had the highest photosynthesis and chlorophyll content, significantly higher than those of CK. T8 had the highest pepper yield, followed by T4 (WD︰vinegar residue = 5︰2), increased by 11.14% and 7.74%, respectively, compared with CK. T7 and T8 treatments had lower soluble solids contents, but higher contents of Vc, soluble protein and soluble sugar. On the whole, T8 treatment is recommended as an organic substrate for the growth of pepper.