Brazil is the largest world producer of papaya and the third largest exporter despite of only 1.5 to 2.0% of its production is exported. Such an underexplored exportation potential highlight the necessity for physiological studies on new cultivars and hybrids to verify their agronomic and commercial viability. Two Brazilian states, Bahia and Espirito Santo, are responsible for 80% of national production. Papaya can also be an agricultural alternative to north / northeast of Rio de Janeiro, because the region is close to consumer centers and have similar environmental conditions of the most productive regions. Nevertheless, it is worth to develop cultivars that can express the highest yield potential in this region. The aim of this work was to characterize physiologically two hybrids developed for the north/northeast of Rio de Janeiro (UENF/Caliman 01 and JS12) in comparison with three top commercial genotypes (Golden, Sunrise Solo 7212 and Tainung) of Carica papaya L.. The cv. Golden presented the lowest shoot and root growth, the lowest height, shrunk diameter, specific leaf weight, less efficiency in electrons transport per sample area and show the lowest ability to synthesized total chlorophylls in comparison with the others genotypes. At noon, this genotype showed higher stomatal conductance, related to the leaf-air vapor pressure deficit, which lead to higher transpiration rate and intrinsic water use efficiency. No differences were detected in the photosynthetic rates among the five genotypes suggesting that the UENF`s hybrids are endowed with similar photosynthetic capacity and morphological characteristics to the top commercial genotypes. The relevance of this characterization to drive future successful genetic improvement programs will be discussed.