Photosynthetic parameters of Scendesmus quadricauda, such as the maximum photosynthetic rate ($P_{max}$), photosynthetic efficiency (α) and the initial saturation intensity of irradiance for photosynthesis ($I_K$) were obtained using photosynthesis-irradiance (P-I) curve in a phosphorus-limited chemostat. S. quadricauda exhibitied no photoinhibition until at 200 μmol·$m^{-2}$ . $P_{max}$ (r=0.963, P=0.002) and $I_K$(r=0.904, P=0.013) showed linear relationships with growth rate. Chlorophyll-α concentration and cell dry weight decreased at higher growth rates, ut chlorophyll-α content per cell dry weight increased. The increase in photosynthetic rates at higher growth rates was due to the increase of $P_{max}$ and $I_K$ which was caused mainly by the increase in the absolute amount of chlorophyll-α rather than the increased photosynthetic efficiency of individual chlorphyll-α. The α did not show a significant relationship with growth rate (r=0.714, P=0.111). The cell quota of carbon (r=0.554, P=0.254) was not correlated with growth rate, but cell quota of nitrogen (r=0.818, P=0.047) and phosphorus (r=0.855, P=0.030) exhibited linear correlations with growth rate.