1. Hydraulic conductance is recognized as a major determinant of gas exchange and productivity. However, whether this also applies to seedlings, a critically important stage for vegetation regeneration, has been largely unknown.2. We analyzed the hydraulic and stomatal conductance of leaves and shoots for 6-week-old Acer pseudoplatanus seedlings emerging in different lowland and treeline habitats and under glasshouse conditions, respectively, as well as on 9-, 15-and 18 week-old plants, and related findings to leaf and xylem anatomical traits.3. Treeline seedlings had higher leaf area-specific shoot hydraulic conductance (K shoot-L ), and stomatal conductance (g s ), associated with wider xylem conduits, lower leaf area and higher stomatal density than lowland and glasshouse-grown plants. Across the first 18 weeks of development, seedlings increased fourfold in absolute shoot hydraulic conductance (K shoot ) and declined by half in K shoot-L , with correlated shifts in xylem and leaf anatomy. Distal leaves had higher leaf hydraulic conductance (K leaf ) and g s compared to basal leaves. 4. Seedlings show strong variation across growth environments and ontogenetic shifts in hydraulic and anatomical parameters. Across growth sites, ontogenetic stages and leaf orders, g s was tightly correlated with K shoot-L and K leaf , balancing hydraulic supply with demand for the earliest stages of seedling establishment.