Deep chlorophyll maximum (DCM), a chlorophyll peak in the water column, has important implications for biogeochemical cycles, energy flow and water surface algal blooms in deep lakes. However, how an observed periodically asymmetric DCM response to environmental variables remains unclear, limiting our in-depth understanding and effective eco-environmental management of deep lakes. Based on both monthly field investigations in 2021 and diel continuous observations in 2021–2023 in clear, monomictic Lake Fuxian, Southwest China, the temporal dynamics and drivers of DCM were examined and periodic features of DCM were found, with a formation period (FP, February–July) and a weakening period (WP, August–December). On the monthly scale, although DCM dynamics were partly attributed to thermocline structures, the role of light penetration depths varied with period. In the FP, the influence of light on DCM was direct, i.e., increased depth and thickness but decreased magnitude. Differently, the influence of light mainly occurred by affecting thermocline structures in the WP, where water quality was another important driver. On the diel scale, light was a major reason for a thicker and lower (magnitude) DCM during day than at night, and the response of DCM to environmental factors between the FP and WP differed also more during day. This periodically asymmetric response of daytime DCM not only being caused by light but possibly also related to other physical factors such as lake surface water temperature, wind speed and precipitation. Bayesian network modelling suggested that water darkening and stratification intensification may promote a shallower, thinner and larger (magnitude) DCM in both FP and WP, but achieving such changes in DCM requires different light and thermocline thresholds. Our findings provide new information valuable for modelling DCM and for predicting the related surface algal blooms in deep lakes under climate change and eutrophication.