In this study, the responses of arbuscular mycorrhizal(AM) to photosynthetic fluorescence characteristics of wheat under different molybdenum levels were studied by inoculation with Claroideoglomus etunicatum(BEG168) and non-inoculation control at four molybdenum levels of 0, 5, 100, 1 000 mg/kg with pot experiment using sterilized soil. The results showed that arbuscular mycorrhizal fungi(AMF) could stably infect wheat under different soil molybdenum levels, with an average infection rate of 58.82%. AM could improve the net photosynthetic rate(Pn) and stomatal conductance(Gs) of wheat under different molybdenum levels. At molybdenum 100 mg/kg, the net photosynthetic rate of wheat was the most dependent on the mycorrhizal dependence, reaching 698.05%. AM could increase the maximum photochemical efficiency of photosystem II(Fv/Fm), the potential activity of photosystem II(Fv/Fo), the light energy absorption performance index(PIabs), the ability of photosystem II to transfer electrons downstream(φo) and the quantum yield of electron transfer(φEo) in wheat leaves under different molybdenum levels, especially at molybdenum 100 mg/kg, the increase was significant. In summary, AM could increase the photosynthetic capacity of wheat under different molybdenum levels and enhance the overall performance of photosystem II, reaching the optimal outcome at the levels of 100 mg/kg.