Identifying environmental factors that improve plant growth and development under nitrogen (N) constraint is essential for sustainable greenhouse production. In the present study, the role of light intensity and N concentrations on the biomass partitioning and physiology of chrysanthemum was investigated. Four light intensities [75, 150, 300, and 600 µmol m−2 s−1 photosynthetic photon flux density (PPFD)] and three N concentrations (5, 10, and 15 mM N L−1) were used. Vegetative and generative growth traits were improved by increase in PPFD and N concentration. High N supply reduced stomatal size and gs in plants under lowest PPFD. Under low PPFD, the share of biomass allocated to leaves and stem was higher than that of flower and roots while in plants grown under high PPFD, the share of biomass allocated to flower and root outweighed that of allocated to leaves and stem. As well, positive effects of high PPFD on chlorophyll content, photosynthesis, water use efficiency (WUE), Nitrogen use efficiency (NUE) were observed in N-deficient plants. Furthermore, photosynthetic functionality improved by raise in PPFD. In conclusion, high PPFD reduced the adverse effects of N deficiency by improving photosynthesis and stomatal functionality, NUE, WUE, and directing biomass partitioning toward the floral organs.