The effects of cadmium ions ($Cd^{2+}$) on the Chl a fluorescence of Ricciocarpos natans were investigated in order to determine whether Chl fluorescence can be used as a biomarker to estimate the physiological responses of plants to cadmium stress. In all plants treated with $Cd^{2+}$, the image of Fv/Fm, which represents the maximum photochemical efficiency of PSII, changed as the $Cd^{2+}$ concentration increased, when treated for 48 h or more. Changes of ${Phi}_{PSII}$ and $Q_P$ images were recognized even at 10 ${mu}M$ $Cd^{2+}$. The Chl a O-J-I-P fluorescence transient was also affected even at 10 ${mu}M$ $Cd^{2+}$. The fluorescence yield decreased considerably in steps J, I and P in plants treated with $Cd^{2+}$, although a typical polyphasic rise was observed in non-treated plants. The Chl fluorescence parameters, Fm, Fv/Fo, Sm, SFIabs, PIabs and ETo/CS, decreased as the $Cd^{2+}$ concentration increased, while the Mo and Kn parameters increased. Peroxidase activity decreased significantly and catalase activity increased as the $Cd^{2+}$ concentration increased. Because of its sensitivity to $Cd^{2+}$ Ricciocarpos natans is useful in experiments investigating the responses of plants to cadmium exposure. Several parameters (Fm, Fv/Fo, Sm, SFIabs, PIabs, ETo/CS, Mo and Kn) can be applied to determine quantitatively the physiological states of plants under cadmium stress.