With the new pepper cultivar Guanlong as a test material, effects of differ-ent fertilizer application modes on growth and development, yield and photosynthetic characteristics of pepper were studied. The results showed that the plant height and plant expansion of pepper in T4 were the largest, of 104.3 and 90.6 cm, respec-tively. T1 showed the largest weight of single fruit, fruit length and fruit diameter, re-spectively of 101.6 g, 25.49 cm and 4.86 cm. The content of total chlorophyl in the leaves of T1 was the highest, of 66.7 mg/g, and the root activity of T1 was also the highest, of 100.6 g/(g·FW·h). The net photosynthetic rate of pepper leaves in T5 was the highest, of 6.6 μmol/(m^2·s), while the net photosynthetic rates of T1 and T2 were the lowest, fluctuating in the range of 1.3-2.5 μmol/(m^2·s). T3 showed the highest decrease amplitude of stomatal conductance in pepper leaves, of 2 658.1 mol/(m^2·s), while the decrease amplitudes of stomatal conductance of pepper leaves in treatments T2 and T5 were the lowest, fluctuating in the range of 386.7-428.7 mol/(m^2·s). T1 showed the highest decrease amplitude of transpiration rate of pepper leaves, of 4.7 mmol/(m^2·s), while treatment T5 showed the lowest decrease ampli-tude of transpiration rate of pepper leaves, of 1.1 mmol/(m^2·s). The intercel ular CO2 concentration was the highest in the leaves of T5, of 436.8 μmol/mol. T1 showed the highest plot output, yield per hectare and benefit, of 340.1 kg, 96 448.5 kg/hm^2 and 162 865.6 Yuan/hm^2, respectively, while T3 exhibited the lowest plot output, yield per hectare and benefit, of 260.8 kg, 74 338.5 kg/hm^2 and 124 888.5 Yuan/hm^2, respec-tively.