The widespread occurrence and accumulation of plastic waste have been globally recognized as a critical issue. However, few researches have evaluated the adverse effects of nanoplastics to freshwater organisms. Thus, here, the effects of polystyrene nanoplastics (PS-NP) on the physiological changes (i.e., molting) and enzyme activity of oxidative stress were investigated in the adult freshwater prawn Macrobrachium nipponense. Based on a previous study and environmental microplastic concentrations, the prawn was exposed to 0, 0.04, 0.4, 4, and 40 mg/L waterborne PS-NP for 21 days. The results showed that growth and survival-related parameters were not affected by all PS-NP groups, while the molting rate were significantly decreased in the 4 and 40 mg/L PS-NP group. Meanwhile, the expression of molting-related gene (calcium–calmodulin-dependent protein kinase I, ecdysteroid receptor, and leucine-rich repeat-containing G-protein-coupled receptor 2) were significantly decreased. H2O2 content was significantly increased in all PS-NP groups relative to the control. Lower concentrations of PS-NP increased the activity of superoxide dismutase (SOD), glutathione S-transferase (GST), and glutathione peroxidase (GSH-Px), whereas increased concentrations, decreased SOD, GST, and GSH-Px activity. These results suggest that chronic exposure to PS-NP at an environmental concentration impaired molting and induced oxidative stress in the adult river prawn Macrobrachium nipponense. The findings provided basic information for assessing the risk assessment of nanoplastics and revealing the molecular mechanisms of nanoplastics toxicity.