Nutrients and light are critical factors for sustained Centella asiatica L. Urban production under a controlled environment. The growth, triterpene glycosides, and antioxidant activities of C. asiatica grown under a controlled environment with different nutrient solution formulations (NFFs) and LED light intensities were investigated. Four different NSFs were tested on plant growth, bioactive compounds, and their activities in a conventional greenhouse. The results showed that the plants grown with Houghland and Arnon solution exhibited better growth performance, whereas the use of Resh’s Tropical Dry Summer solution led to increased bioactive compounds and their activities. Subsequently, Resh’s Tropical Dry Summer solution was selected to evaluate the effect of light intensity in a controlled environment. Plants were grown under three LED light intensities (110, 220, and 330 µmol/m2/s PPFD) compared with fluorescent and natural lights (45 and 326 µmol/m2/s PPFD, respectively). We found that light intensity had the strongest influence on growth, triterpene glycosides, and antioxidant activities. Significantly higher values of the most studied parameters were observed in plants grown under high light intensity compared to those grown under low light intensity. The optimal light intensity was 330 µmol/m2/s PPFD, representing an efficient approach for commercially producing this medicinal plant with a higher yield and medicinal properties in a controlled environment.