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Abstract Plants respond to increasing atmospheric CO2 concentrations by reducing leaf nitrogen content and photosynthetic capacity—patterns that correspond with increased net photosynthesis and growth. Despite the longstanding notion that nitrogen availability regulates these responses, eco-evolutionary optimality theory posits that leaf-level responses to elevated CO2 are driven by leaf nitrogen demand for building and maintaining photosynthetic enzymes and are independent of nitrogen availability. In this study, we examined leaf and whole-plant responses of Glycine max L. (Merr) subjected to full-factorial combinations of two CO2, two inoculation, and nine nitrogen fertilization treatments. Nitrogen fertilization and inoculation did not alter leaf photosynthetic responses to elevated CO2. Instead, elevated CO2 decreased the maximum rate of ribulose-1,5-bisophosphate oxygenase/carboxylase (Rubisco) carboxylation more strongly than it decreased the maximum rate of electron transport for ribulose-1,5-bisphosphate (RuBP) regeneration, increasing net photosynthesis by allowing rate-limiting steps to approach optimal coordination. Increasing fertilization enhanced positive whole-plant responses to elevated CO2 due to increased below-ground carbon allocation and nitrogen uptake. Inoculation with nitrogen-fixing bacteria did not influence plant responses to elevated CO2. These results reconcile the role of nitrogen availability in plant responses to elevated CO2, showing that leaf photosynthetic responses are regulated by leaf nitrogen demand while whole-plant responses are constrained by nitrogen availability.