Although leeches are of great medical and economic value in anticoagulant therapy, full-length transcriptomes for leeches remain scarce. Here, we generated the first full-length transcriptome for the paddy leech Whitmania pigra (the most widely utilized medical leech in Chinese traditional medicine) through Pacific Biosciences (Pacbio) single-molecule long-read sequencing. A total of 191,676 full-length non-chimeric (FLNC) reads were obtained, 30,660 were high-quality unique full-length transcripts. The BUSCO (Bench-marking Universal Single-Copy Orthologues) accession of completeness demonstrated that 74.8% of BUSCOs were complete. We functionally annotated 28,144 transcripts were in public databases, including NR, gene ontology (GO), Pfam, etc. Furthermore, 1,314 long non-coding RNAs (LncRNAs), 2,574 alternative splicing (AS) events, 932 transcript factors (TFs), and 33,258 simple sequence repeats (SSRs) we identified across all transcripts. From the generated data, a total of 426 anticoagulant genes, including 122 Antistasins, 124 with the Fibrinogen beta and gamma chains, and 62 Kazal-type serine protease inhibitors were screened out. Twenty-five novel proteins were revealed following the evaluation of the annotations and products of these anticoagulant transcripts. The regulation network between LncRNAs and corresponding coding transcripts was found with the typical mang-to-many pattern, especially obvious in a specific type of protein, Guamerin. Collectively, the present findings provide a rich set of full-length cDNA sequences for W. pigra, which will greatly facilitate research on transcriptomic genetic for this species and leeches.