In this study, the effects of coronatine treatment on the growth, comprehensive metabolic profiles, and productivity of bioactive compounds, including phenolics and phytosterols, in whole plant cultures of Lemna paucicostata were investigated using gas chromatography-mass spectrometry (GC-MS) coupled with multivariate statistical analysis. To determine the optimal timing of coronatine elicitation, coronatine was added on days 0, 23, and 28 after inoculation. The total growth of L. paucicostata was not significantly different between the coronatine treated groups and the control. The coronatine treatment in L. paucicostata induced increases in the content of hydroxycinnamic acids, such as caffeic acid, isoferulic acid, ρ-coumaric acid, sinapic acid, and phytosterols, such as campesterol and β-sitosterol. The productivity of these useful metabolites was highest when coronatine was added on day 0 and harvested on day 32. These results suggest that coronatine treatment on day 0 activates the phenolic and phytosterol biosynthetic pathways in L. paucicostata to a greater extent than in the control. To the best of our knowledge, this is the first report to investigate the effects of coronatine on the alteration of metabolism in L. paucicostata based on GC-MS profiling. The results of this research provide a foundation for designing strategies for enhanced production of useful metabolites for pharmaceutical and nutraceutical industries by cultivation of L. paucicostata.