Far red photon flux accelerates photosynthetic electron transfer rates through photosynthetic pigments, influencing various biological processes. In this study, we investigated the impact of differing red and far-red light ratios on plant growth using LED lamps with different wavelengths and Ca1.8Mg1.2Al2Ge3O12:0.03Cr3+ phosphor materials. The control group (CK) consisted of a plant growth special lamp with 450 nm blue light + 650 nm red light. Four treatments were established: F1 (650 nm red light), F2 (CK + 730 nm far-red light in a 3:2 ratio), F3 (650 nm red light + 730 nm far-red light in a 3:2 ratio), and F4 (CK + phosphor-converted far-red LED in a 3:2 ratio). The study assessed changes in red and far-red light ratios and their impact on the growth morphology, photosynthetic characteristics, fluorescence characteristics, stomatal status, and nutritional quality of cream lettuce. The results revealed that the F3 light treatment exhibited superior growth characteristics and quality compared to the CK treatment. Notably, leaf area, aboveground fresh weight, vitamin C content, and total soluble sugar significantly increased. Additionally, the addition of far-red light resulted in an increase in stomatal density and size, and the F3 treatments were accompanied by increases in net photosynthetic rate (Pn), transpiration rate (Tr), intercellular CO2 concentration (Ci), and stomatal conductance (Gs). The results demonstrated that the F3 treatment, with its optimal red-to-far-red light ratio, promoted plant growth and photosynthetic characteristics. This indicates its suitability for supplementing artificial light sources in plant factories and greenhouses.