Elevated tropospheric ozone concentration (O3) increases oxidative stress in vegetation and threatens the stability of crop production. Current O3 pollution in the United States is estimated to decrease the yields of maize (Zea mays) up to 10%, however, many bioenergy feedstocks including switchgrass (Panicum virgatum) have not been studied for response to O3 stress. Using Free Air Concentration Enrichment (FACE) technology, we investigated the impacts of elevated O3 (~100 nmol mol−1) on leaf photosynthetic traits and capacity, chlorophyll fluorescence, the Ball–Woodrow–Berry (BWB) relationship, respiration, leaf structure, biomass and nutrient composition of switchgrass. Elevated O3 concentration reduced net CO2 assimilation rate (A), stomatal conductance (gs), and maximum CO2 saturated photosynthetic capacity (Vmax), but did not affect other functional and structural traits in switchgrass or the macro- (except potassium) and micronutrient content of leaves. These results suggest that switchgrass exhibits a greater O3 tolerance than maize, and provide important fundamental data for evaluating the yield stability of a bioenergy feedstock crop and for exploring O3 sensitivity among bioenergy feedstocks.