The aim of the present study was to examine the ability of I. pseudacorus L., an ornamental macrophyte of great potential for phytoremediation, to tolerate and accumulate Cr and Zn. Plants were grown in nutritive solution with ZnCl2 or CrCl3·6H2O at 0, 10, 50, 100, and 200 μg ml−1 for 5 weeks; all survived and continued growing. The accumulation of Cr and Zn increased with increasing supply in all plant tissues, to reach 59.97 mg Cr and 25.64 mg Zn in roots. Leaves retained a remarkable amount of Zn (14.2 mg). Growth inhibition reached 65% and 31% (dry weight) in response to Cr and Zn, respectively. The root:shoot dry matter partitioning (R/S) increased 80% at 100 μg ml−1 CrCl3. The most marked alterations in mineral content were in roots, where both metals decreased Al, Ca, Mg, Mn and S, and increased P concentration. No effect was noted on either leaf chlorophyll fluorescence kinetics (F v /F m and ΦPSII), or photosynthetic pigment content, signifying that the light phase of photosynthesis was not impaired. Carbon isotope composition (δ13C) was only slightly heavier, indicating that the reduction of carbon fixation was not the main cause for growth decrease. This was attributed to the restricted mineral uptake and to the increased demand of carbohydrates of damaged roots. Biomass allocation to rhizomes (Cr) or roots (Zn) contributes to heavy metal tolerance by limiting transpiration and increasing metal-storing tissues and the surface for water and cation uptake. This species is a good candidate for Cr rhizofiltration and Zn phytoextraction.