Diazotrophs or N 2-fixers are one of the most ecologically significant groups in marine ecosystems (pelagic and benthic). Inorganic phosphorus (PO 4 3−) and iron (Fe) can limit the growth and N 2-fixing capacities of cyanobacteria. However, studies investigating colimitation of these factors are lacking. Here, we added different concentrations of PO 4 3− and Fe in two cyanobacterial species whose relatives can be found in seagrass habitats: the unicellular Halothece sp. (PCC 7418) and the filamentous Fischerella muscicola (PCC 73103), grown under different nitrate (NO 3 −) concentrations and under N 2 as sole N source, respectively. Their growth, pigment content, N 2-fixation rates, oxidative stress responses, and morphological and cellular changes were investigated. Our results show a serial limitation of NO 3 − and PO 4 3− (with NO 3 − as the primary limiting nutrient) for Halothece sp. Simultaneous co-limitation of PO 4 3− and Fe was found for both species tested, and high levels of Fe (especially when added with high PO 4 3− levels) inhibited the growth of Halothece sp. Nutrient limitation (PO 4 3− , Fe, and/or NO 3 −) enhanced oxidative stress responses, morphological changes, and apoptosis. Furthermore, an extensive bio-informatic analysis describing the predicted Pho, Fur, and NtcA regulons (involved in the survival of cells to P, Fe, and N limitation) was made using the complete genome of Halothece sp. as a model, showing the potential of this strain to adapt to different nutrient regimes (P, Fe, or N).