Light and nutrient limitation are two key factors affecting the growth and regeneration of understory plants. In this study, the growth and stoichiometric traits of Schima superba' seedlings, a dominant evergreen tree species in the subtropical area, were studied under different light conditions (full light, shading of 45% full light) and N-P supply ratio (5, 15, 45). The results showed that: (1) shading not only significantly inhibited the biomass accumulation of different organs and individual plants of S.superba, but also increased P limitation. Although N and P additions did not notably promote the growth of S.superba, the growth performance was more beneficial to the later growth when the N-P supply ratio was 5, but high N-P supply ratio might lead to P limitation. (2) Shading significantly increased the content of leaf N and P, but markedly decreased the leaf C/N and C/P ratio. The content of N in each organ or whole plants increased notably with the increase of N-P supply ratio in different light treatments, while the C/N ratio gradually reduced. The distribution patterns of P element changed, and the order of the P content in full light group followed by stem > leaf > root, and that in shading group was root > stem > leaf. (3) With the increase of N-P supply ratio or the decrease of light intensity, S.superba tended to decrease the root-shoot ratio and root biomass ratio, and increase the leaf biomass ratio and stem biomass ratio. (4) The biomass of S.superba was markedly and negatively correlated with N and P content of each organ and leaf biomass ratio, while it was notably positively correlated with C/N and C/P ratio, root-root ratio, stem biomass ratio and root biomass ratio. Overall, both the change of light intensity and N-P supply ratio significantly affected the nutrient utilization characteristics of S.superba seedlings. Our results indicate that it is critically important to adjust the stand environment for the early growth of S.superba as a nurse tree species.