One-year-old seedlings of Amur maple (Acer ginnala Maxim), Ussurian pear (Pyrus ussuriensis Maxim) and David peach (Prunus davidiana Carr) were planted in pots in greenhouse and treated with four different soil moisture contents (75.0%, 61.1%, 46.4% and 35.4%). The results showed that net photosynthesis rate (NPR), transpiration rate (TR) and stomatal conductance (Sc) of seedlings of the three species decreased with the decease of soil moisture content, and Amur maple seedlings had the greatest change in those physiological indices, followed by Ussurian pear, David peach. Amur maple and Ussurian pear seedlings also presented a decrease tendency in water use efficiency (WUE) under lower soil moisture content, whereas this was reversed for David peach. Under water stress the biomass allocation to seedling root had a significant increase for all the experimental species. As to root/shoot ratio, Amur maple seedlings had the biggest increase, while David peach had the smallest increase. The leaf plasticity of Amur maple seedlings was greater, the leaf size and total leaf area decreased significantly as the stress was intensified. No significant change of leaf size and total leaf area was found in seedlings of Ussurian pear and David peach. It was concluded that Amur maple was more tolerant to soil moisture stress in comparison with David peach and Ussurian pear.