Although the fern Platycerium bifurcatum is popular among the producers of ornamental plants, it is a species of relatively poorly known physiology. Studies concerning the impact of the red/far-red (R/FR) ratio on photomorphogenesis refer primarily to spermatophytes. However, quite different phytochrome response mechanism functions in ferns, involving the localization of physiologically active form of phytochrome in the cytoplasm, without translocation to the nucleus. This work determined the reaction of young fern sporotrophophylls to the change of the R/FR ratio and investigated sporophyte ontogeny in various spectral light composition using nondestructive testing methods. It has been shown that the development of morphogenic sporophyte depends on the R/FR ratio. At a high R/FR ratio, sporotrophophylls showed a slower growth compared to those growing at a low value. A high R/FR value resulted in lower photochemical performance of PSII and adverse changes in the functioning of the acceptor portion of the PSII reaction center, while the PSII vitality analysis indicated the positive effect of simulated shadow. The value of the R/FR ratio did not affect the intensity of blue-green leaf fluorescence. However, the fluorescence intensity of red and far-red was significantly higher in plants growing at higher R/FR values. The analysis of leaf optical properties indicated higher concentrations of carotenoids and anthocyanins in the leaves of plants grown under the lower R/FR ratio. Determining the effect of spectral light composition on the physiology of this species may be useful for plant breeders and for the protection of these epiphytes in natural habitats.