The decay of trees causes loss of forest resources, degradation of forest quality, exerts negative impacts on carbon sequestration capacity of forest ecosystem and damages economic benefits of forest resources, and it has become an important research topic and challenge in forestry field. However, our understanding of the causes of tree decay and the response of growth of decaying trees to climate change are still limited. Therefore, revealing the radial growth differentiation and climate response characteristics of healthy and decaying trees can provide references for carbon sequestration of forest ecosystems, forest health evaluation and forest resource management. In this study, Abies fabri Craib in Gongga Mountain was selected as the research object, and the radial growth characteristics of healthy and decaying Abies fabri Craib were studied by using standard dendrochronological methods. The results showed that: the basal area increment (BAI) of both healthy and decaying Abies fabri Craib showed a significant growing trend since 1880, and the radial growth rate of decaying Abies fabri Craib in different periods (from 1880 to now and in the last 10 years) was significantly lower than that of healthy Abies fabri Craib, indicating that Abies fabri Craib with lower growth rate may be more susceptible to decay. It could be seen that the radial growth rates of both healthy and decayed Abies fabri Craib were significantly correlated with temperature and moisture factors. The radial growth of decayed Abies fabri Craib was positively correlated with the vapor pressure deficit (VPD) in the growing season (May—October), and negatively correlated with Pr in October and relative humidity (RH) in the growing season. But the radial growth of healthy Abies fabri Craib was not significantly correlated with Pr, VPD and RH in the growing season, indicating that sufficient moisture conditions in the growing season had a negative effect on radial growth of decaying Abies fabri Craib. The results showed that with the continuous warming of the climate in the future, the relatively slow growing Abies fabri Craib may be more susceptible to decay, and the radial growth of decaying Abies fabri Craib may be more restricted under the negative influence of moisture conditions. This study revealed the radial growth process and climate response characteristics of healthy and decaying Abies fabri Craib in Gongga Mountain, which will help to understand the ecological response mechanism of standing wood decay, and provide scientific basis for ecological protection, restoration, and sustainable management of natural forests under climate change.