A hydroponic experiment was conducted to investigate the variations in membrane permeabilities, chlorophyll contents, antioxidase activities, the ascorbic acid (AsA)-glutathione (GSH) cycle, and the glyoxalase system in the leaves of Pontederia cordata with 0 ∼ 15.0 mg L−1 lead ion (Pb2+) exposure. The concentrations of Pb2+ accumulated in the plant roots, stems, and leaves were also evaluated. After 7 days of exposure, the plants maintained normal growth, and there was a significant increase in ascorbate peroxidase and dehydroascorbate reductase activities. With 5.0 mg L−1 Pb2+ exposure for 28 days, nearly 66.36% of Pb2+ accumulated in the roots, while excess Pb2+ immobilized in the leaves was not observed. Exposure to 10.0 and 15.0 mg L−1 Pb2+ for 28 days significantly increased Pb2+ contents in the leaves. This led to decrease in chlorophyll a, b, and carotenoid contents, and to increase in the methylglyoxal content in the leaves. With 10 and 15 mg L−1 Pb2+ exposure, NPT and PCs contents in leaves increased. however, the glyoxalase system did not function well in the plant tolerant to Pb2+ at higher concentrations. The AsA-GSH cycle did not cooperate with the glyoxalase system in the plant defense against Pb2+ exposure in the present investigation.