Abstract: The Giant Panda is listed on the IUCN (International Union for the Conservation of Nature and Natural Resources) as a rare endangered species. How to effectively protect giant panda and its habitats is an important part of biodiversity conservation in China. The Labahe Nature Reserve, which is located in Ya'an, west of Sichuan, is also one of the hotspots for biodiversity conservation in the world. However, due to complex terrain of the region, discrete distribution of the panda’s habitats and lack of historical research data, only few studies have been done to explore dynamic variation of the distribution of giant panda populations and their habitats. Thus, it is necessary to carry out researches of dynamics of the giant panda population in this area. Distribution of giant panda and its sympatric species in the Labahe Natural Reserve, Sichuan, was investigated from April 15 to June 18 and from October 12 to November 18 in 2010, and from May 6 to June 16 in 2011, through transect survey. Results show that (1) giant pandas in this region prefer to wander in temperate conifer-broadleaf forests and temperate conifer forests with canopy density over 0.4 on slopes below 45^o, between 1885-2821m in elevation, and feed on Bashania fangiana; (2) during the survey, giant pandas were found mainly in four regions: Luzigou-changheba, Heixuangou, Xiaolianghekou(left), and Guanfanggou, among which Heixuangou had the most trace points and Xiaolianghekou(left) was the highest in encounter rate, and both of the parameters increased with the time passing on; and (3) the giant pandas in the reserve had mainly 15 species of companion animals, among which Cervus unicolor, Budorcas taxicolor, Macaca thibetana and Moschus berezovskii were the most seen ones, large in population and extensive in distribution; 9 species were losing in number of loci, with Budorcas taxicolor in particular; and Cervus unicolor,Naemorhedus goral,Elaphodus cephalophus,Ailurus fulgens and Capricornis sumatraensis gained in number of loci, especially Cervus unicolor; however, Selenarctos thibetanus fluctuated in number of loci and was quite stable on the whole. This research may provide scientific basis for the reserve to effectively protect Giant Pandas and its sympatric species, and for related administrators to make decisions to on building giant panda habitats and manageing the nature reserve.