Under-mulch-drip irrigation is an advanced irrigation technique, which combines plastic-film-covered cultivation with drip irrigation. The influence of different norms of under-mulch-drip irrigation on di-urnal changes of photosynthetic rates and chlorophyll fluorescence parameters of cotton was studied, in orderto understand the physiological mechanisms of water-saving and high-yielding farming in Xinjiang. Results in-dicated that limited drip irrigation, which supplies 2/3 of 375 m3 ha-1 , the widely-used irrigation norm in cot-ton cultivation in Xinjiang, caused a water deficit in cotton field. Compared with the proper drip irrigation,the leaf photosynthetic rate under limited drip irrigation decreased during 9:00 to 11:00 a. m., and was sig-nificantly suppressed at midday, and then recovered afterwards. Using the chlorophyll fluorescence method,the absorption, transfer and transformation features of solar radiation by cotton leaf were investigated. Underlimited drip irrigation, the variable fluorescence (Fy) and primary light transfer efficiency of PSII (Fv/Fm)in cotton leaves were reduced because of the high light intensities and high temperatures at noon, and the de-crease in Xinluzao8 was greater than that in Xinluzao6. Therefore, it could be concluded that Xinluzao6 has ahigher drought-tolerance, and the Fv/Fm ratio could be used as a drought-resistance index for cotton.