To study the effects of the bulb storage conditions on the growth and bulb production of lily, a factorial experiment based on a completely randomized design with two cultivars (the Tiber and Donato), three storage temperatures (-2 °C, 4 °C, and ambient temperature), and three storage durations (4, 8, and 12 weeks) was performed. Bulb sprouting percentage, days to bulb sprouting, number of leaves, leaf area, bulb weight, propagation rate, plant height, stem diameter, days to bud emergence, number of buds, bulb size, and number of scales were evaluated. The results showed that the lowest number of days to bulb sprouting and days to bud emergence, the highest bulb sprouting percentage, plant height, stem diameter, leaf area, bulb weight, bulb size, and propagation rate were observed in Donato cultivar. Tiber cultivar showed the highest number of buds, number of leaves, and number of scales. The minimum number of days to bulb sprouting and days to bud emergence, the highest bulb sprouting percentage, bulb weight, bulb size, number of scales, and propagation rate obtained by storing the bulbs at 4 °C for 12 weeks. In conclusion, 12 weeks storage of the bulbs at 4 °C was the best condition for propagation of two studied lily cultivars.