Hypoxic environments have an adverse effect on the growth and development of P. praecox, and this is accompanied by the production of reducing substances such as Fe and Mn. In this study, the effect of hypoxic stress and Mn concentrations on leaf chlorophyll contents, root morphology, root activity, element absorption, antioxidant enzymes, and respiratory enzyme system of P. praecox were evaluated in a hydroponics environment. The results revealed that application of Mn2+ during hypoxic stress enhanced leaf chlorophyll contents and boosted up the indexes of the root system. The root activity of P. praecox was reduced with stresses of hypoxia. The treatment of Mn2+ initially improved and then decreased the root activity of P. praecox, and attained its maximum with application of 300 μmol/L Mn2+ compared with control. The indexes of antioxidant enzymes of P. praecox were higher than that of 8 mg/L oxygen concentrations except for variable superoxide dismutase (SOD) in the treatment of 300 μmol/L Mn2+ with hypoxia stress. The application of Mn had inhibited the absorption of mineral elements in P. praecox. The activities of pyruvate decarboxylase (PDC), alcohol dehydrogenase (ADH), and lactic dehydrogenase (LDH) were initially improved and then diminished with hypoxia stress. It is concluded that hypoxia is a key factor affecting the growth and degradation of P. praecox, while combining it with the increase of Mn concentration enhances the damage to Phyllostachys pubescens. Our research is helpful for the sustainable management and scientific fertilization management of Phyllostachys praecox.