NG2 binding peptide is a specific short peptide that recognizes the NG2 proteoglycan and can be obtained via phage display technology. This peptide achieves precise targeting of tumor neovasculature in vitro and in vivo through interaction with NG2 binding sites. It demonstrates significant homing ability in wild-type tumor-bearing mice but shows no localization effect in NG2 knockout mice. Due to the tissue-specific expression of NG2, the NG2 binding peptide can be applied in tumor-targeted therapy, drug delivery, and molecular imaging diagnostics.