We studied the seasonal changes in water relations, chlorophyll a fluorescence, and leaf saccharide contents of the tropical flood-tolerant trees Acosmium nitens, Campsiandra laurifolia, Eschweilera tenuifolia, Symmeria paniculata, and Psidium ovatifolium. Xylem water potential increased with flooding to a larger extent than leaf sap osmotic potential in all the species, and soluble sugars contributed up to 66 % of osmotic potential at maximum flooding. Starch was accumulated in leaves. Maximum quantum yield of photosystem 2 decreased in emerged leaves, values being always higher than 0.76. Daily maximum net photosynthetic rate and leaf conductance decreased in all the species. This reduction was associated in all the species but S. paniculata with the absence of a compensatory increase in non-photochemical quenching. and E. Rengifo, W. Tezara, A. Herrera.