We examined the effects of a long-term nutrient-optimization treatment on the acquisition and allocation of biomass, carbon (C), and nitrogen (N) in young Norway spruce (Picea abies (L.) Karst.) growing in northern Sweden. After 12 years of fertilization the absolute biomass of stem, needles, living branches, and stump and coarse roots was more than doubled by nutrient optimization (irrigation – liquid fertilization treatment, IL), but the standing biomass of fine and small roots was unaffected compared with that of control trees. Biomass allocation among aboveground organs was not plastic to nutrient optimization and only the relative proportion of dead branches was reduced by nutrient optimization. Within the crown, biomass allocation to living branches was shifted towards the apex in IL trees. The N content in IL trees was substantially higher than in control trees. Most of the total N was allocated to needles and most of the needle N was found in the middle stratum of the living crown in both treatments, although the N concentration of current-year and older needles increased towards the apex in IL trees but not in control trees. The C concentration in the biomass components was not affected by the optimized fertilization. The results clearly show that there is a large potential to increase biomass production of Norway spruce (C sequestration) in the Nordic countries. This would secure the supply of raw material for the forest industry at the same time as the demand for biofuel from forest biomass is increasing.