The present invention provides a novel peptide having bone formation-promoting effect and chondrocyte growth-promoting effect, in particular, a peptide having osteoblast growth-promoting activity, having 100 amino acid residues or less comprising an amino acid sequence selected from(a) Val-Asn-Pro-Glu-Ser-Glu-Glu-Glu-Asp-Glu-Ser-Ser-Pro-Tyr-Glu (SEQ ID NO: 1),(b) an amino acid sequence derived from the amino acid sequence (a) by conservative substitution or deletion of 1 to 3 amino acids, and(c) an amino acid sequence consisting of at least four contiguous amino acids of the amino acid sequence (a) or (b), ora derivative thereof or a salt thereof.