The purpose of the experiment was to induce the differentiation of osteoblasts and chondrocytes from bone marrow mesenchymal stem cells (BMSCs) in the horse (Equus caballus). BMSCs were obtained by primary cell culture, and stem cell characteristics of the third generation (P3) of purified cells were identified. Then, the BMSCs were induced to differentiate in vitro, and the differentiated cells were stained and identified for specific gene expression. The results showed that the obtained horse bone marrow cells expressed stem cell transcription factors and mesenchymal stem cell surface markers. The cells obtained were thought to be horse BMSCs. After induction culture, P3 generation cells changed in shape from "long spindle" to "bone nodules" osteoblasts and “paving stones” chondrocytes. Alizarin red staining showed that the induced red osteoblasts, and the red "bone nodules" gradually increased with time. The number of Alsine blue stained chondrocytes, which were rich in proteoglycan and hyaluronic, increased with extended induction time, while no staining was observed in the control group. The expressions of Col and ALPL genes in osteoblasts changed significantly with the induction time. Common PCR results showed that chondrogenic genes such as collagerⅡ, aggrecan and Sox9 were amplified in the induced chondrocytes, while the control cells did not express these specific genes. In conclusion, BMSCs were successfully induced to differentiate into osteoblasts and chondrocytes, providing experimental basis for the repair of bone tissue defects and the treatment of chondrocytes.