Target seedling cultivation pursues high quality and nutrient utilization instead of increasing growth and size. Exposure to light-emitting diode (LED) spectra is a well-known approach that can accelerate growing speed in tree seedlings, but it is still unknown whether seedling quality and nutrient utilization would be further improved with exogeneous polymer additives. Luohan pine (Podocarpus macrophyllus) seedlings were exposed to red (red-green-blue lights, 71.7%-13.7%-14.6%), green (26.2%-56.4%-17.4%), and blue (17.8%-33.7%-48.5%) LED-light spectra with half receiving leaf spray by chitosan oligosaccharides (Cos) at a rate of 2 ppm (w/w) and the other half receiving only water. The red-light spectrum promoted height, biomass, nutrient utilization, and quality assessment (DQI) in water-sprayed seedlings. The Cos spray enhanced fine-root growth, protein, and chlorophyll-b contents with elevated nutrient utilization and quality in seedlings in the green-light spectrum. DQI was found to have a positive relationship with phosphorus utilization. In conclusion, although the red-light LED spectrum can promote seedling growth, green light combined with Cos spray is recommended with the aim of maintaining seedling quality and increasing P utilization in Luohan pine seedlings.