Socio-economically important plant species that are used in wetland restoration projects can act as economic incentives for conservation and restoration. We examined the suitability of a medicinal plant, Acorus calamus L. (sweetflag, Acoraceae), for use in wetland restoration. We subjected rhizomes of A. calamus to different levels of light (full light and shade), moisture (400 ml and 200 ml water biweekly), and nitrogen (10 µg ml-1 and 4 µg ml-1 nitrogen biweekly) in a greenhouse study mimicking different stages of wetland restoration. At the end of the experiment, the biomass and length of each rhizome, and number of mature buds, leaves, and roots, were recorded. Multivariate analysis of variance indicated that light (λ = 0.762), nitrogen (λ = 0.449), and moisture (λ = 0.508) had significant effects on rhizome growth. Our results indicate that A. calamus displays a high degree of morphological plasticity in biomass allocation patterns in response to environmental parameters. Furthermore, most of its biomass is sequestered in roots and rhizomes, which are economically important. The rhizome of A. calamus can persist in nitrogen-limited soil though it fares better in soils with greater nitrogen content. It is also adapted to grow in both light and moderate shade and can grow in both flooded and drawdown areas. These characteristics make A. calamus suitable for planting at both the beginning and later stages of wetland restoration. Acorus calamus can be harvested as a low input crop from both nitrogen-poor and nitrogen-rich wetlands to help local communities benefit from wetland restoration.