Yellow lupin (Lupinus luteus) may have potential as a legume crop in waterlogging-prone areas of Western Australia. To elucidate the physiological response of yellow lupin and the widely grown narrow-leafed lupin (L. angustifolius) to transient waterlogging we conducted experiments in controlled environments. Narrow-leafed lupin and yellow lupin were grown in pots and waterlogged for 14 days from 28 to 42, or 56 to 70 days after sowing, each being followed by a 14-day recovery period. Root and shoot growth responses, leaf gas exchange, water relations, and N accumulation were assessed.During the period of waterlogging, net nitrogen accumulation ceased in both species at both ages. During recovery, yellow lupin accumulated more nitrogen than narrow-leafed lupin. Waterlogging reduced leaf gas exchange more with older plants than with younger plants, and more so with narrow-leafed lupin than yellow lupin. Some components of leaf gas exchange, particularly leaf conductance, were reduced by up to 80%. Waterlogging had no effect on leaf water potential of yellow lupin but reduced it in narrow-leafed lupin, from about -450 to -1100 kPa, especially during the recovery period.Yellow lupin was more adapted to transient waterlogging than narrow-leafed lupin because it maintained its leaf water status, it accumulated more nitrogen during recovery, and its photosynthetic activity recovered quickly after removal of waterlogging.