In recent years, light-emitting diodes (LEDs) have been utilized by many researchers in order to develop an understanding of light-regulated plant growth and development. However, there has been little discussion on using LEDs during in vitro cultures of Panax vietnamensis. This study examines the influence of various LEDs to determine the effectiveness of specific lighting conditions for callus formation and the subsequent development of somatic embryos, plantlet formation, and saponin accumulation. The results showed that growth and development had significant differences, and different lighting conditions were optimal for various stages. Callus cultured under yellow LEDs (Y-LEDs) resulted in the maximum fresh and dry weights (1197, 91.7 mg, respectively) after 3 months of culture. The most effective plantlet formation (11.21 plantlets per explant) from embryogenic calli was obtained when the combination of 60% red LED (R-LED) and 40% blue LED (B-LED) was used. The results of this study also provide additional evidence of LEDs influencing on the accumulation of saponin content. R-LED (20%) in combination with B-LED (80%) gave the highest MR2 content. However, the highest Rg1 and Rb1 contents were found under fluorescent light. The present results highlight the significance of using LEDs for improvement in micropropagation of P. vietnamensis.