The effects of growth CO2 levels on the photosynthetic rates; the amounts of ribulose-1,5-bisphosphate carboxylase (Rubisco), chlorophyll (Chl), and cytochrome f; sucrose phosphate synthase activity; and total N content were examined in young, fully expanded leaves of rice (Oryza sativa L.). The plants were grown hydroponically under two CO2 partial pressures of 36 and 100 Pa at three N concentrations. The light-saturated photosynthesis at 36 Pa CO2 was lower in the plants grown in 100 Pa CO2 than those grown in 36 Pa CO2. Similarly, the amounts of Rubisco, Chl, and total N were decreased in the leaves of the plants grown in 100 Pa CO2. However, regression analysis showed no differences between the two CO2 treatments in the relationship between photosynthesis and total N or in the relationship between Rubisco and Chl and total N. Although a relative decrease in Rubisco to cytochrome f or sucrose phosphate synthase was found in the plants grown in 100 Pa CO2, this was the result of a decrease in total N content by CO2 enrichment. The activation state of Rubisco was also unaffected by growth CO2 levels. Thus, decreases in the photosynthetic capacity of the plants grown in 100 Pa CO2 could be simply accounted for by a decrease in the absolute amount of leaf N.