Vanadium (V) can be absorbed by plants and regulate their growth and development, although contrasting effects have been reported among species and handling conditions. The objective of this work was to evaluate the beneficial effect of V on pepper plants (Capsicum annuum L.). The plants were grown in a hydroponic system with the application of four V concentrations (0, 5, 10, and 15 μM NH₄VO₃). Four weeks after the beginning of the treatments, growth, flowering, biomass, chlorophyll concentration, total amino acids, total soluble sugars, and nutrients were determined in leaves, stems, and roots. The application of 5 μM V increased plant growth, induced floral bud development, and accelerated flowering. The chlorophyll concentration varied according to the type of plant part analyzed. The concentrations of amino acids and sugars in leaves and roots were higher with 5 μM. With 10 and 15 μM V, the plants were smaller and showed toxicity symptoms. The K concentration in leaves decreased as the V dose increased (0 to 15 μM). However, 5 μM V increased the concentrations of N, P, K, Ca, Mg, Cu, Mn, and B, exclusively in stems. The application of 15 μM V decreased the concentrations of Mg and Mn in leaves, but increased those of P, Ca, Mg, Cu, and B in roots. We conclude that V has positive effects on pepper growth and development, as well as on the concentrations of amino acids and total sugars. V was antagonistic with K, Mg, and Mn in leaves, while in stems and roots, there was synergism with macro and micronutrients. Vanadium is a beneficial element with the potential to be used in biostimulation approaches of crops like pepper.