American sycamore seedlings were grown in chambers with two different ozone concentrations ($O_3$-free air and air with additional $O_3$) for 45 days. Both the control and the $O_3$ chambers included non-fertilized and fertilized plants. After 18 days of $O_3$ fumigation, seedlings were placed in a clean chamber for 27 days. Seedlings under ozone fumigation showed a significant decrease in pigment contents and photosynthetic activity, and a significant increase in lipid peroxidation. Fertilization enhanced physiological damage such as the inhibition of photosynthetic activity and the increase of lipid peroxidation under ozone fumigation. During the recovery phase, the physiological damage level of seedlings increased with ozone fumigation. In addition, physiological damage was observed in the fertilized seedlings. Superoxide dismutase (SOD) and glutathione reductase (GR) activities of $O_3$-treated seedlings increased up to 33.8% and 16.3% in the fertilized plants. The increase of SOD activity was higher in the fertilized plants than in the non-fertilized plants. Negative effects of ozone treatment were observed in the biomass of the leaves and the total dry weight of the fertilized sycamore seedlings. The $O_3$-treated seedlings decreased in stem, root and total dry weight, and the loss of biomass was statistically significant in the fertilized plants. In conclusion, physiological disturbance under normal nutrient conditions has an effect on growth response. In contrast, in conditions of energy shortage, although stress represents a physiological inhibition, it does not seem to affect the growth response.