This work evaluated maize anatomy and physiology, under waterlogging, interacting or not with Typha domingensis at different phosphorus concentrations. Plants were transplanted to pots containing vermiculite waterlogged by a nutrient solution of different phosphorus concentration (0, 12.4, 24.8 mg P L-1) interacting or alone. The gas exchange parameters were analysed, leaves and roots collected and prepared accordingly to the usual methods of plant microtechnique. The slides were mounted and prepared for evaluation in an image analysis software. The experimental design was completely randomized in a factorial 3 x 2, and data were submitted to analysis of variance by Scott-Knott test for 5% probability. The presence of T. domingensis decreased root aerenchyma proportion and increased the gas exchange parameters, stomatal size and root apoplastic barriers under 24.8 mg P L-1. The intercropping is favourable under 24.8 mg P L-1.