Reducing nitrogen (N) application is crucial in addressing the low N utilization efficiency (NUE) and the risks of environmental pollution in wheat production. Improving low N (LN) tolerance in wheat can help balance the conflict between wheat growth and reduced N fertilization. Hydroponic experiments were conducted using Yangmai158 (LN-tolerant) and Zaoyangmai (LN-sensitive) cultivars to study whether LN priming (LNP) in the 3-leaf stage can improve the photosynthetic capacity of wheat seedlings under N-deficit stress at the 5-leaf stage. LNP increased the net photosynthetic rate (P n ), stomatal conductance (G s ), electron transfer rate (ETR), carboxylation efficiency (CE), maximum carboxylation rate (V cmax ), and the content and activity of Rubisco and Rubisco activase (RCA) in both cultivars, with Yangmai158 showing a greater increase than Zaoyangmai. After 14 days of N-deficit stress, the decreases in P n , G s , ETR, CE, V cmax , and the content and activity of Rubisco and RCA of the two cultivars treated with LNP were significantly lower compared with those of the treatments without LNP. LNP improved the allocation proportion of leaf N to photosynthetic machinery, with the greatest increase in the carboxylation machinery. These results indicate that LNP can allocate more N to the photosynthetic apparatus, improving Rubisco content and activity to enhance the photosynthetic capacity and NUE of leaves under N-deficit stress.