In order to study the effect of mycorrhizae and phosphate fertilizer on some physiological indices of growth and tuber yield of potato under moisture stress conditions, a field experiment was conducted in spring and summer of 2018 in Hamedan, west of Iran. This research was done as a factorial with three factors in a randomized complete block design with three replications. The first factor was moisture stress at three levels of irrigation after 60 (control), 80 and 100 mm evaporation from class A evaporation pan, the second factor was mycorrhizae (Glomus mossea) at two levels of application and non-application and the third factor was phosphate fertilizer at two levels of application and non-application. The results showed that in the absence of moisture stress, the maximum leaf area index decreased by 10.5% with use of mycorrhizae, but in moderate and severe moisture stress, the use of mycorrhizae increased it by 12.3% and 18.8%, respectively. Under severe moisture stress, mycorrhizae increased net assimilation rate and crop growth rate by 43.6% and 76%, respectively. At all three levels of moisture stress, the presence of mycorrhizae increased phosphorus agronomic efficiency. The presence of mycorrhizae in no-moisture stress had no effect on tuber yield, but at moderate and severe moisture stress, mycorrhizae improved it by 16.4% and 34.7%, respectively. In severe moisture stress condition, the application of phosphate increased tuber yield by only 15.8% compared to non-application of phosphate. Therefore, for potato production in conditions of moisture stress, the use of mycorrhizae with phosphate fertilizer is suitable.