This study examines the patterns and composition of the bryophyte and vascular vegetation within the oligotrophic peatland surrounding Little Dollar Lake, Mackinac County. Botanical reconnaissance documented the presence of 36 bryophyte species and 92 vascular species. One vascular species, Potamogeton confervoides, is a state of Michigan threatened species. Random, quantitative samping of 279 square meter quadrats along 13 transects was analyzed by two-way indicator species analysis (TWINSPAN). TWINSPAN analysis, in conjunction with field observation and aerial photography, was used to outline three vegetation cover types, each consisting of two constituent vegetation phases. The three cover types delineated by TWINSPAN were the Calamagrostis canadensis cover type, the Chamaedaphne calyculata cover type, and the Chamaedaphne calyculata-Carex lasiocarpa cover type. The fourth cover type, the Potamogeton confervoides-Utricularia geminiscapa cover type, was delineated visually and consisted of the aquatic flora of Little Dollar Lake. Field observations and aerial photographs reveal that the process of terrestrialization apparently has been filling in a stream channel with vegetation dominated by Carex lasiocarpa. To a lesser extent, paludification also has been occurring in some lagg habitats, an apparent reflection of a high water table in the peatland.