This study evaluated the toxic effects of arsenic (As) on the growth, total antioxidant activity, total content of phenolic compounds, and content of photosynthetic pigments of Azolla filiculoides. The aquatic fern was propagated and exposed to Yoshida nutrient solution contaminated with sodium arsenate (Na 2 HAsO 4 ·7H 2 O) at six concentrations (5, 10, 20, 30, 60, and 120 μgAsmL −1 ), including the control without As contamination. Azolla cultures were kept under environmental chamber conditions 26°C, 12 h photoperiod and 80% HR for 96 h. Increased As concentrations (>30 μgmL −1 ) significantly diminished growth of A. filiculoides and the total content of chlorophyll and total phenolic compounds, but significantly enhanced of total carotenoid+xanthophylls content. The concentrations of 5 and 10 μgAsmL −1 significantly stimulated the growth of A. filiculoides. This aquatic fern tolerates As concentrations lower than 30 μgmL −1 , and its maximum As accumulation (28 μgg −1 dry weight) was achieved when exposed to 60 μg As mL −1 , but showing clear symptoms of As toxicity.