Nanomaterial fullerene (FLN) has different responses called the hormesis effect against stress conditions. The favorable/adverse impacts of hormesis on crop quality and productivity are under development in agrotechnology. In this study, the effect of FLN administration (100-250-500mg L−1 for FLN1-2-3, respectively) on growth, water management, gas exchange, chlorophyll fluorescence kinetics and cobalt (Co)-induced oxidative stress in Zea mays was investigated. The negative alterations in relative growth rate (RGR), water status (relative water content, osmotic potential and proline content) and gas exchange/stomatal regulation were removed by FLNs. FLNs were shown to protect photosynthetic apparatus and preserve the photochemistry of photosystems (PSI–PSII) in photosynthesis, chlorophyll fluorescence transients and energy flux damaged under Co stress. The maize leaves exposed to Co stress exhibited a high accumulation of hydrogen peroxide (H2O2) due to insufficient scavenging activity, which was confirmed by reactive oxygen species (ROS)-specific fluorescence visualization in guard cells. FLN regulated the gene expression of ribulose-1,5-bisphosphate carboxylase large subunit (rbcL), nodulin 26-like intrinsic protein1-1 (NIP1-1) and tonoplast intrinsic protein2-1 (TIP2-1) under stress. After stress exposure, FLNs successfully eliminated H2O2 content produced by superoxide dismutase (SOD) activity of catalase (CAT) and peroxidase (POX). The ascorbate (AsA) regeneration was achieved in all FLN applications together with Co stress through the elevated monodehydroascorbate reductase (MDHAR, under all FLNs) and dehydroascorbate reductase (DHAR, only FLN1). However, dose-dependent FLNs (FLN1-2) provided the induced pool of glutathione (GSH) and GSH redox state. Hydroponically applied FLNs removed the restrictions on metabolism and biological process induced by lipid peroxidation (TBARS content) and excessive ROS production. Considering all data, the modulation of treatment practices in terms of FLN concentrations and forms of its application will provide a unique platform for improving agricultural productivity and stress resistance in crops. The current study provided the first findings on the chlorophyll a fluorescence transient and localization of ROS in guard cells of Zea mays exposed to FLN and Co stress.