In the mid and high elevations of the central Himalaya, Nepalese alder (Alnus nepalensis D. Don) occurs in areas affected by landslides/landslips and is a nitrogen‐fixing species; it quickly improves soil physical and chemical properties and facilitates the restoration of degraded forests. In the present study, we evaluated the effect of A. nepalensis forest chronosequence on the carbon (C), nitrogen (N), and phosphorus (P) concentrations, N and P stocks, and stoichiometry in the soil, including microbial biomass C (MBC), microbial biomass N (MBN) and microbial biomass P (MBP), and in the plant components. Six naturally occurring forest stands were identified in a chronosequence of A. nepalensis (age 3–270 years old) forest stands, namely alder‐early regenerating (AER), alder‐late regenerating (ALR), alder young‐mixed (AYM), alder mature‐oak (Quercus leucotrichophora) mixed (AMOM), alder mature‐rhododendron (Rhododendron arboreum) mixed (AMR), and alder old‐oak (Q. leucotrichophora) mixed (AOOM) forests. The biomass of tree components was estimated using species‐specific allometric equations developed by previous workers for the region. Soil total N and total P stocks of each species were determined by the N and P concentrations and bulk density. Structural equation modeling (SEM) was performed to quantify the contribution of N and P pools to ecosystem nitrogen and phosphorus stocks. The results of this study revealed that the stoichiometry (C:N, N:P, and C:P ratios) of tree components (i.e., leaves, leaf litter, twig), soil and microbial biomass varied widely, and the presence of nitrogen‐fixing A. nepalensis in different succession stages significantly improved the soil and microbial biomass stoichiometry. Total vegetation (tree, herbs, shrubs, and litter) biomass N stock ranged from 346.77 to 4662.06 kg N ha−1, and soil N stock varied from 816.48 to 7334.24 kg N ha−1. Total ecosystem N and P stocks ranged from 1163.26 to 11,996.31 kg N ha−1 and 76.10 to 799.28 kg P ha−1, respectively, and positively increased with A. nepalensis total biomass. The soil P stock accounted for 63.49% to 74.80% of the total P stocks of the forest ecosystems. Overall, our findings suggest that A. nepalensis forest chronosequence enhanced the N and P stocks, and introducing this species in degraded forests appears to be an option for enhancing forest conservation and rehabilitation actions in the central Himalaya.