Day-neutral multiflora chrysanthemums can flower throughout the year without being influenced by daylength and have great application value in gardens. Studying heterosis and the genetic basis of important traits in day-neutral chrysanthemums can accelerate the breeding of new cultivars. In this research, a genetic population was constructed by crossing 135 F1 hybrid progeny from the day-neutral chrysanthemum ‘82-81-19’ (female parent) and the late-flowering chrysanthemum ‘388Q-76’ (male parent). Six traits, including abnormal (crown) bud, plant height, plant crown width, budding date, full flowering date, and number of petal layers, were selected for inheritance and heterosis analyses, and a single-generation major gene plus polygene mixed inheritance model was used to perform mixed inheritance analysis on these traits. The results indicated that the six traits were widely segregated in the F1 population, with the coefficient of variation (CV) ranging from 30% to 84%. The phenomena of heterosis and extra-parent segregation existed generally in F1 progeny, and the ratio of heterosis value of mid-parents (RHm) for the six traits was 45.5%, 2%, 2%, 6%, 6%, and −0.3%, respectively. The mixed genetic analysis showed that the abnormal (crown) bud and budding date were fitted to the B-3 model and controlled by two pairs of additive major genes. The plant height and plant crown width were fitted to the A-0 model, and no major gene was detected. The full flowering date was fitted to the A-1 model and was controlled by one pair of major genes. The number of petal layers was fitted to the B-1 model and controlled by two pairs of additive–dominant major genes. The heritabilities of major genes for abnormal bud, budding date, full flowering date, and the number of petal layers were 1.0, 0.9871, 0.7240, and 0.5612, respectively, indicating that these traits were less affected by environmental factors. Using a percentile scoring method, eight day-neutral chrysanthemum genotypes were selected from the hybrid progeny.