This experiment was carried out to study the influence of the various soil water regimes on photosynthesis and growth and development of ginseng plant (3 years). The results were as follows: optimum soil water content for root dry weight and diameter appeared to be 62% of field capacity (13.9% fresh weight basis). The 62% field capacity showed superiority in leaf area, leaf dry weight and also in number of flower, fruit, seed per plant. Net photosynthesis rates per unit area increased with increasing soil water content but net photosynthesis rates per plant were superior in 62% field capacity. Rates of transpiration increased linearly with increasing soil water content but density of stomata decreased with increasing soil water content.