Sufficient water and fertilizer inputs in agriculture play a major role in crop growth, production, and quality. In this study, the response of sugarcane to limited water irrigation and foliar application of potassium salt of active phosphorus (PSAP) for photosynthetic responses were examined, and PSAP's role in limited water irrigation management was assessed. Sugarcane plants were subjected to limited irrigation (95−90 and 45−40% FC) after three months of germination, followed by a foliar spray (0, 2, 4, 6, and 10 M) of PSAP. The obtained results indicated that limited water irrigation negatively affected sugarcane growth and reduced leaf gas exchange activities. However, the application of PSAP increased the photosynthetic activities by protecting the photosynthetic machinery during unfavorable conditions. Mathematical modeling, a Skewed model, was developed and compared with the existing Gaussian model to describe the photosynthetic responses of sugarcane leaves under the limited irrigation with and without PSAP application. The models fitted well with the observed values, and the predicted photosynthetic parameters were in close relationship with the obtained results. The Skewed model was found to be better than the Gaussian model in describing the photosynthetic parameters of plant leaves positioned over a stem of limited water irrigation and applied PSAP application and is recommended for further application.