A greenhouse experiment was carried out during the spring–summer 2009 to test the hypotheses that: (1) arbuscular-mycorrhizal (AM) inoculation with a biofertilizer containing Glomus intraradices gives an advantage to overcome alkalinity problems, (2) mineral fertilization is more detrimental to AM development than organic fertilization on an equivalent nutrient basis. Arbuscular mycorrhizal (AM) and non-AM of zucchini (Cucurbita pepo L.) plants were grown in sand culture with two pH levels in the nutrient solution (6.0 or 8.1) and two fertilization regimes (organic or mineral). The high-pH nutrient solution had the same basic composition as the low-pH solution, plus an additional 10 mM NaHCO3 and 0.5 g L–1 CaCO3. Increasing the concentration of NaHCO3 from 0 to 10 mM in the nutrient solution significantly decreased yield, plant growth, SPAD index, net assimilation of CO2 (ACO2), N, P, Ca, Mg, Fe, Mn, and Zn concentration in leaf tissue. The +AM plants under alkaline conditions had higher total, marketable yield and total biomass compared to –AM plants. The higher yield and biomass production in +AM plants seems to be related to the capacity of maintaining higher SPAD index, net ACO2, and to a better nutritional status (high P, K, Fe, Mn, and Zn and low Na accumulation) in response to bicarbonate stress with respect to –AM plants. The percentage root colonization was significantly higher in organic-fertilized (35.7%) than in mineral-fertilized plants (11.7%). Even though the AM root colonization was higher in organic-fertilized plants, the highest yield and biomass production were observed in mineral-fertilized plants due to the better nutritional status (higher N, P, Ca, and Mg), higher leaf area, SPAD index, and ACO2.