Exponential fertilization is well-known for improving the growth and nutritional status of seedlings during nursery culture. However, less is known about how genetic variability among seedling species influences the effects of fertilization regimes on the growth of seedlings and their nutritional status under varying fertilization levels. Here, we conducted a greenhouse experiment to compare the growth, as well as the nitrogen (N) and phosphorus (P) nutrient concentration responses, of 2- and 3-generation Chinese fir (Cunninghamia lanceolata (Lambert) Hooker) seedlings to the impacts of varying exponential and conventional constant-rate fertilization levels (50, 100, and 200 mg P seedling−1). Seedling size and shoot:root ratios were lower in exponential fertilization than in conventional fertilization. Exponentially fertilized seedlings had higher concentrations of N and P nutrients compared to conventionally fertilized seedlings during low-level fertilization. Conversely, an elevated P concentration was observed in seedlings subjected to conventional fertilization compared to those exposed to exponential fertilization during high-level fertilization. However, there were no significant differences in seedling N and P concentrations between the two fertilization regimes during medium-level fertilization. Furthermore, 2- and 3-generation Chinese fir seedlings differed greatly in their growth and nutritional status. Additionally, there were significant fertilization regime × seedling generation interaction effects on the seedling shoot:root ratio and N concentration. Our findings suggest that exponential fertilization can improve the nutritional status, survival, and growth of Chinese fir seedlings, especially on competitive sites, and that information on both intra-species genetic variability and appropriate fertilizer levels is necessary for the successful fertilization of Chinese fir seedlings, regardless of fertilization regimes.