The research was to approach the growth strategy of rhizome and roots based on the morphology, biomass and nutrient in Phyllostachys rivalis under long-term waterlogged conditions, and provided a theoretical basis for its application for vegetation restoration in wetland and water-level fluctuation belts. The morphological characteristics, physiological and biochemical indexes of annual bamboo rhizome and roots were investigated with an experiment using individually potted P. rivalis which was treated by artificial water-logging for 3, 6, and 12 months. Accordingly the morphological characteristics, biomass allocation, nutrient absorption and balance in rhizome and roots of P. rivalis were analyzed. The results showed that there was no obvious impact of long-term water-logging on the length and diameter of rhizomes, diameter of roots in P. rivalis. The morphological characteristics of rhizome had been less affected generally under water-logging for 3 months. And less rhizomes were submerged, while the growth of roots was inhibited to some extent. Furthermore, with waterlogging time extended, submerged roots and rhizomes grew abundantly, and the roots and rhizomes in soil were promoted. Moreover for ratios of rhizome biomass in soil and water, there were no obvious variations, the same for the root biomass in soil to total biomass. The ratio of root biomass in water to total biomass and the ratio of root biomass in water to root biomass in soil both increased significantly. The results indicated that P. rivalis could adapt to waterlogged conditions gradually through growth regulation and reasonable biomass distribution. However, the activity of rhizome roots in soil decreased and the nutrient absorption was inhibited by long-term water-logging, although it had no effect on stoichiometric ratios of root nutrient in soil. The activity of rhizome root in water increased and the stoichiometric ratios adjusted adaptively to waterlogged conditions, the ratio of N/P increased, while N/K and P/K decreased, which implied that roots in water absorbed oxygen and nutrients could help P. rivalis adapt to long-term waterlogged environment effectively.