Different concentrations of compost applied as organic fertilizer can modify productive, quality, and chemical parameters in several fruit tree species. The objective of this study was to determine the effect of increasing applications of compost on physiological, productive, and quality parameters in calafate fruit during the seasons of 2018–2019 and 2019–2020. The study was conducted on a commercial calafate orchard using a randomized complete block design with four treatments (CK: no compost application, T1: 5 Ton ha−1, T2: 10 Ton ha−1, and T3: 15 Ton ha−1), each with four repetitions. The results did not show statistical significance for stomatal conductance (Gs), quantum yield of PSII, or photosynthetic active radiation (PAR) within treatments. As for fruit yield, a statistical difference was found between the control treatment and T1, which were lower than T2 and T3 in both seasons. The trees reached a higher leaf area index with T2 in both seasons. The highest antioxidant capacity was obtained with T3 and T2 for the first and second season, respectively. Polyphenols and total anthocyanin production showed statistical significance, with a higher content at the second season with T2. It is concluded that the dose under which yield, quality, and nutraceutical content of calafate fruit are optimized is the one used in T2, 10 Ton ha−1.