The effect of water stress on photosynthesis was determined in five mulberry cultivars (Morus alba L. cv. K-2, MR-2, BC2-59, S-13 and TR-10). Drought was imposed by withholding water and the plants were maintained at different water potentials ranging from 0.5 -MPa to 2.0 -MPa. Photosynthetic rates, activities of ribulose-1,5-bisphosphate carboxylase and sucrose phosphate synthase, photosystem II activity and chlorophyll content were used as key parameters to assess photosynthetic performance. There was a marked variation in the photosynthetic rates and ribulose-1,5-bisphosphate carboxylase activity among the five mulberry cultivars subjected to water stress. Photosystem II (PSII) and sucrose phosphate synthase activities were also severely reduced as measured by drought conditions. Of the five mulberry cultivars, S-13 and BC2-59 showed higher photosynthetic rates, ribulose-1,5-bisphosphate carboxylase activity, high sucrose phosphate synthase activity and photochemical efficiency of PSII compared to the other varieties.