Very distinctive response of photosynthesis due to soil-water deficit have been noticed in two clones namely RRIM 600 and RRII 105 of Hevea brasiliensis grown in the field at Dapchari, a dry subhumid area in the North-Konkan region of India. Photosynthetic parameters were comparable between the two clones both in open or partial shade under well waterred conditions. Soil-moisture deficit inhibited, photosynthetic rate more in RRII 105 than RRIM 600 indicating that the latter is a better clone for drought endurance. Partial shade favoured the plants to maintain better photosynthesis under water deficit conditions. This was very crucial for the drought susceptible clone RRII 105 which maintained better photosynthetic rate in shade than open condition during drought stress. Similar inhibitory effects due to soil-moisture deficit were also noticed in PS II quantum yield (dark adapted Fv/Fm) and effective PS II quantum yield (Qps II) in a given light intensity was less in RRII 105 than RRIM 600. This study reveals that drought induced inhibition in photosynthesis in Hevea was associated with excess excitation energy pressure in PS II which is linked to decreased efficiency of light utilization by PS II during soil-moisture deficit.