This paper studied the vegetation composition, bud composition, and the seasonal dynamics and vertical distribution pattern of bud bank in five erosion environments (sunny gully slope, sunny hilly slope, hilltop, shady hilly slope, and shady gully slope) on the hilly-gully Loess Plateau of North Shaanxi. In the study area, the perennial species with perennial bud bank accounted for 80.3% of the total species, while the annual species with seasonal bud bank took up 19.7% of the total. In vegetation turning-green season, there was a relatively large perennial bud bank stock on the sunny hilly-gully slope where serious erosion occurred, while seasonal bud bank showed a higher bud bank density in blossom and fruit-setting season on the hilltop and two shady slopes where soil erosion intensity was relatively gentle. The proportion of underground bud bank to total perennial bud bank in different erosion environments was relatively stable. On the land surface, the perennial bud bank stock was larger on the sunny slope where the soil disturbance often occurred, whereas the seasonal bud bank stock was larger on the shady slope and hilltop. Due to the different species composition of plant communities in different erosion environments, in addition to the disturbance of soil erosion and the seasonal plant regeneration, the seasonal dynamics and vertical distribution pattern of bud bank changed. It was suggested that bud bank played an important role in the vegetation regeneration after the disturbance of soil erosion on the hilly-gully Loess Plateau of North Shaanxi.