Algal growth potentials were probed by algal growth rates, maximal PSII quantum yields and ATP amount as well as dry weights of algae to evaluate the water fertility due to the algal growth in the stream (CT) and stagnant watershed (WW). Oscillatoria agardhii (CY) and Coelastrum reticulatum (CH) were cultured in nitrogen (N) and phosphorus (P) starvation media (CH-10 medium) and re-inoculated in CT and WW for 7 days. Cell division rates of CY were the highest (k = 7.5) in WW after N starvation, while those of CH were the hight (k = 2.97) in WW after P starvation. The growth of CY was limited by P, while that of CH was by N. Conversely, maximal PSII quantum yields of CH were generally higher than those of CY in CT and WW according to culture time. CY was much more sensibly adapted than CH according to the variations of nutrient amounts in WW. The water fertility was much higher in WW than in CT. The potential assessment tool for water fertility will be able to compensate for the limit of physio-chemical analyses and to be applied as a monitoring system to forecast red-tide.