Acid rain (AR) is an increasingly serious environmental problem that frequently occurs in Southern China with sulfuric acid rain (SAR) as the main type. SAR can negatively affect the growth and physiological properties of trees, but mycorrhizal associations may mitigate such detrimental effects. However, the mechanisms by which arbuscular mycorrhizal fungi control SAR-induced impacts on Torreya grandis plants remain unclear. A pot experiment was conducted on T. grandis seedlings, an economically important tree species in Southern China, in which inoculated and non-inoculated T. grandis seedlings were subjected to three simulated SAR regimes (pH of 5.6, 4.0, and 2.5, respectively) to examine the effects on the growth, osmotic regulation, and nutrient absorption of these seedlings. The results show that, although SAR had no effect on the accumulation of biomass, it significantly decreased the concentrations of proline and soluble protein, shoot Zn2+, P, K+, and Ca2+ concentrations, and the Fe2+ and Mn2+ concentrations of shoots and roots. Mycorrhizal inoculation, especially with Rhizophagus irregularis, significantly increased total biomass, proline concentration, and the Zn2+, P, and K+ concentrations in the shoots of T. grandis under lower pH conditions. Moreover, our findings suggest that the combination of root colonization, acid tolerance, and the concentrations of shoot-P, shoot-Zn2+, and root-Fe2+ of T. grandis jointly conferred mycorrhizal benefits on the plants under SAR conditions. Given the enhancement of the nutritional quality of T. grandis owing to mycorrhizal associations, inoculation with R. irregularis may be preferable for the culturing and management of these plants under acidic conditions.