Is there any way to revive my 50-year-old peony plant?

Melinda:

decades when grown in sunny spots with well-draining soils. Increasing shade or competition from tree roots may be causing your plant to decline. If this is the case, move it to a sunnier location this fall. Prepare the soil before planting, as your peony may stay in place for 50 years or more. Make sure the eyes, the growing points at the base of the stems, are no more than an inch below the soil surface.

If the plant is receiving sufficient sunlight (six or more hours), it may need a nutrient boost. Consider adding a low-nitrogen, slow-release fertilizer to the soil in spring.

This will encourage slow, steady growth, but will not interfere with flowering.