At present, anthropogenic nitrogen deposition has dramatically increased worldwide and has shown negative impacts on temperate/boreal forest ecosystems. However, it remains unclear how an elevated N load affects plant growth in the relatively N-rich subtropical forests of Southern China. To address this question, a study was conducted in a six-year-old Cupressus lusitanica Mill. plantation at the Scientific Research and Teaching Base of Nanjing Forestry University, with N addition levels of N0 (0 kg ha−1 year−1), N1 (24 kg ha−1 year−1), N2 (48 kg ha−1 year−1), N3 (72 kg ha−1 year−1), N4 (96 kg ha−1 year−1), and N5 (120 kg ha−1 year−1). Leaf physiological traits associated with foliar nutrient status, photosynthetic capacity, pigment, and N metabolites were measured. The results showed that (1) N addition led to significant effects on foliar N, but had no marked effects on K concentration. Furthermore, remarkable increases of leaf physiological traits including foliar P, Ca, Mg, and Mn concentration; photosynthetic capacity; pigment; and N metabolites were always observed under low and middle-N supply. (2) High N supply notably decreased foliar P, Ca, and Mg concentration, but increased foliar Mn content. Regarding the chlorophyll, photosynthetic capacity, and N metabolites, marked declines were also observed under high N inputs. (3) Redundancy analysis showed that the net photosynthesis rate was positively correlated with foliar N, P, Ca, Mg, and Mn concentration; the Mn/Mg ratio; and concentrations of chlorophyll and N metabolites, while the net photosynthesis rate was negatively correlated with foliar K concentration and N/P ratios. These findings suggest that excess N inputs can promote nutrient imbalances and inhibit the photosynthetic capacity of Cupressus lusitanica Mill., indicating that high N deposition could threaten plant growth in tropical forests in the future. Meanwhile, further study is merited to track the effects of high N deposition on the relationship between foliar Mn accumulation and photosynthesis in Cupressus lusitanica Mill.