Nitrogen (N) is a major element required for crop cultivation and an important factor affecting plant growth and development. Malabar chestnut (Pachira macrocarpa) is an important ornamental potted plant crop whose N requirement has been studied, and a rapid monitoring method to manage N fertilization during its commercial production is yet to be established. Malabar chestnut seedlings were fertilized weekly with 0, 4, 8, 16, or 24 mm N. After 12 weeks, 16 mm N was found to yield the greatest plant growth such as plant height, number of nodes, and total leaf area. Measurements of chlorophyll meter readings, leaf chlorophyll concentration, leaf N concentration, and leaf dry weight all indicated that the optimal level of N fertilization was 16 mm N. A chlorophyll meter can be used to monitor nondestructively whether sufficient N has been supplied to support optimal plant growth. In this study, a chlorophyll meter reading of 46.1 corresponded with a critical leaf N concentration of 2.65%, defined as the leaf N concentration when the leaf dry weight was at 90% of saturation point. Additional N supplied beyond this critical level increased foliar chlorophyll content and improved the rate of net photosynthesis. Therefore, chlorophyll meter readings, which are convenient and nondestructive can serve as a reliable reference for commercial production in monitoring N requirement for optimum growth of malabar chestnut. Weekly fertilization of malabar chestnut with 16 mm N and maintaining leaf chlorophyll meter readings between 46.1 and 58.4 are recommended.