National Treasure is out of Treasure (Medaglia d'Oro), who was placed but remained a maiden in seven starts. She is also the dam of the Listed winner Ultimate (Speightstown) and of Pirate (Omaha Beach), third in the Grade 1 Hopeful Stakes. Treasure is a half-sister to four Listed winners: Inspired (Unbridled's Song), who won three Listed races, Initiation (Deputy Minister), fourth in the Grade 1 Alcibiades Stakes, Elope (Gone West), placed at Grade 2 level, and Silver City (Unbridled's Song), placed at Grade 3 level.

Second dam Proposal (Mt. Livermore), a stakes-placed winner, is a full sister to Multiple Choice, a Grade 3 winner who was third in the Grade 1 Forego Handicap, and a half-sister to the unraced dam of Leofric, winner of the Grade 1 Clark Handicap and third in the Grade 1 Woodward Stakes.

Third dam Lady of Choice (Storm Bird).

Inspired is the dam of Carmel Road, a winner placed at Grade 2 level, and of the Listed-placed Night Time Lady. The family also includes Telling (A.P. Indy), a Grade 1 winner and later a sire.

Treasure has a 2-year-old filly by Authentic named Renoir and foaled a full brother to National Treasure in January 2024.