Increase in ambient carbon dioxide (CO2) concentration is beneficial for plant growth due to increased photosynthesis and water use efficiency. A greenhouse study was conducted to investigate how supplemented CO2 influences optimal irrigation and fertilization management for production of two ornamental plants. Two identical greenhouses were used, with one having CO2 supplementation and the other serving as the control with ambient CO2 concentration. Tensiometer-based irrigation treatments were applied at soil tensions of –5, –10, and –15 kPa with 0-, 3-, 6-, or 9-g controlled-release fertilizer rates applied in factorial with irrigation treatments. Plugs of geranium ‘Pinto Premium Rose Bicolor’ and fountain grass were grown under experimental conditions for 12 and 16 weeks, respectively. The results showed that CO2 supplementation increased the dry weight of geranium ‘Pinto Premium Rose Bicolor’ and fountain grass by 35% and 39%, respectively. Under the two driest irrigation regimes (–10 and –15 kPa), photosynthesis of geranium ‘Pinto Premium Rose Bicolor’ increased with CO2 supplementation compared with the ambient condition. Similarly, for fountain grass, the moderately watered (–10 kPa) treatment had a greater rate of photosynthesis with greater fertilizer rates of 6 or 9 g. CO2 supplementation resulted in increased water use efficiency of both species, whereas rate of transpiration was lower only in fountain grass. Among different fertilizer rates, 6- or 9-g fertilizer rates had greater values for dry weight, number of flowers, and stomatal conductance in both species. Therefore, it can be concluded that CO2 supplementation can help in efficient use of water for greenhouse production of ornamental plants.