Due to large losses of seagrass meadows worldwide, restoration is proposed as a key strategy for increasing coastal resilience and recovery. The emergence of a seagrass meadow is expected to substantially amplify biodiversity and enhance benthic metabolism by increasing primary productivity and respiration. Nevertheless, open questions remain regarding the metabolic balance of aging seagrass meadows and the roles benthic communities within the seagrass ecosystem play in overall metabolism. To address these questions, we investigated a chronosequence of bare sediments and adjacent Zostera marina meadows of 3 and 7 years since restoration alongside a natural meadow located within a high-temperate marine embayment in Gåsö, Sweden. We combined continuous measurements of O2 fluxes using underwater eddy covariance with dissolved inorganic carbon (DIC) and O2 fluxes from benthic chambers during the productive season (July). Based on the ratio between O2 and DIC, we derived site-specific photosynthetic and respiratory quotients, enabling the conversion of eddy covariance fluxes to DIC. We assessed benthic diversity parameters as potential drivers of metabolic flux variability. We observed high rates of gross primary productivity (GPP) spanning −18 to −82 mmolDICm-2d-1, which increased progressively with meadow age. Community respiration (CR) mirrored the GPP trend, and all meadows were net heterotrophic (GPP < CR), with net community productivity (NCP) ranging from 16 to 28 mmolDICm-2d-1. While autotrophic biomass did not increase with meadow age, macrophyte diversity did, elucidating potential effects of niche complementarity among macrophytes on community metabolism. These findings provide valuable insights into how community composition and meadow development relate to ecosystem functioning, highlighting potential tradeoffs between carbon uptake and biodiversity.