We selected 46 core winter–spring wheat cultivars from China’s main wheat-producing areas as experimental materials to clarify the differences in the physiological parameters of their cold resistance and provide a theoretical basis and high-quality germplasm for cold resistance breeding. We investigated differences in their cold resistance under field conditions for two consecutive years, and determined the physiological parameters of the cold resistance, yield, and quality indicators of different winter–spring wheat cultivars. Our results showed that the cold resistance of winter wheat cultivars was higher than that of spring wheat cultivars. The chlorophyll (Chl), soluble sugar (SS), soluble protein (SP), and free proline (Pro) contents of different winter–spring wheat cultivars were positively correlated with cold resistance, and malondialdehyde (MDA) content was negatively correlated with cold resistance. The five physiological parameters can be used as physiological indicators for the breeding of cold-resistant cultivars. The cold resistance, yield, and quality indicators of different spring and winter wheat cultivars were comprehensively evaluated by using the average membership value and comprehensive score. It was found that the average membership value and comprehensive score of winter wheat cultivars were higher than those of spring wheat cultivars. Through classification using the K-means method, the cold-resistant, high-yield, and high-quality cultivars were screened out, namely, Jimai23 (JM23), Jimai44 (JM44), Shannong57 (SN57), and Jinmai 919 (JM919).