Golden-leaf privet ( Ligustrum × vicaryi ) is widely used as a horticultural shrub because of its upper golden leaves, butits lower leaves are green. However, the putative mechanisms of its upper golden leaves and the leaf color changes inresponse to light shifts have not been well studied so far. Here, chlorophylls (Chl), carotenoids, and Chl precursors from bothgolden and green leaves grown in full sunlight (approximately 1200 μmol photons m −2 s −1 at noon) or low-light conditions(180 μmol m −2 s −1 ) were determined spectrophotometrically. In addition, their gas exchange parameters and Chl fl uorescencewere measured in situ. Metabolic fl ux analysis of chlorophyll intermediates indicated that the conversion of prochlorophyllideto chlorophyllide was signifi cantly blocked in golden leaves when compared with green leaves. Green leaves showed higherphotosynthetic capacity in low light than golden leaves, but golden leaves presented unexpectedly stronger photosyntheticcapacity and lower reactive oxygen species accumulation under the high-light condition. Furthermore, golden leaves showeda higher level of nonphotochemical quenching (NPQ) after the light-to-dark shift and presented a stronger adaptive abilityto a broad range of light environments. Higher NPQ values and less oxidative damage in golden leaves may be correlatedwith their higher carotenoid levels. The results imply that lower chlorophyll levels and higher carotenoid levels in canopyleaves may help privet plants acclimate better to illumination changes. This study demonstrates the key role of irradiance ingenerating the two types of Ligustrum × vicaryi leaves and sheds a light on cultivation of other ornamental foliage plants.