Elevation has a major impact on the terrestrial biogeochemical processes cycle. Exploring the variations in leaf ecological stoichiometry along the elevation gradient will enable an understanding of the adaptative strategy of the plant. The leaf C, N, and P concentrations of the leaf and its corresponding ecological stoichiometry of Potentilla bifurca at different elevations, including from 2980 to 3280 m, 3281 to 3580 m, 4180 to 4480 m, and 4481 to 4780 m, on the northeastern Qinghai-Tibetan Plateau, were investigated. Its ecological adaptability and restricted elements were also discussed for the first time. The results showed that the concentrations of leaf C, N, and P were 411.58 g/kg, 22.47 g/kg, and 1.35 g/kg, respectively, and leaf C:N, C:P, and N:P values were 18.51, 321.81, and 17.33, respectively. The concentrations of leaf C and the N:P of Potentilla bifurca increased with an increase in elevation, with the value of leaf C increasing from 400.40 g/kg to 418.08 g/kg, and the value of leaf N:P increasing from 12.73 to 18.81. The contents of leaf N and P first decreased and then increased with the elevation increase, with maximum and minimum values of 23.88 g/kg and 20.48 g/kg, and 1.89 g/kg and 1.12 g/kg, respectively. However, leaf C:N and C:P first increased and then decreased with the elevation increase; C:N decreased from 20.42 to 17.79, while C:P decreased from 372.18 to 334.72. The concentration of leaf C was neither related to leaf N nor leaf C:N, while it was significantly and negatively related to leaf P and significantly and positively related to leaf C:P and N:P. The concentration of leaf N was not related to leaf N:P, but was significantly and positively related to leaf P and significantly and negatively related to leaf C:N and C:P. The concentration of leaf P was significantly and negatively related to leaf C:N, C:P, and N:P, leaf C:N was significantly and positively related to leaf C:P, and leaf C:N was unrelated to leaf N:P. Leaf C:P was significantly and positively related to leaf N:P. The growth of Potentilla bifurca on the Qinghai-Tibetan Plateau was primarily limited by phosphorus.