A pot experiment was conducted with dragon- head (Dracocephalum moldavica L.) to evaluate the effects of phosphorus fertilizer rates and water stress levels on the fresh herb and essential oil content under the natural conditions of the greenhouse of the National Research Center, Dokki, Giza, Egypt. Herb fresh and essential oil yield of dragonhead were significantly lowered with the rise in water stress levels. Fresh herb and oil yields increased significantly with an increase in P application up to a higher dose. But, oil percentage increased with increase in moisture and P levels and increased significantly with the higher levels of irrigation and P in the two seasons. The maximum of herb fresh yield and essential oil content were obtained from plants irrigated with 80% available soil moisture (ASM) combined with P fertilizers 1.6 g pot -1. The highest content of geranial (26.73%), geraniol (45.98%) and geranyl acetate (87.45%) resulted from the treatments at 40% ASM combined with 0.8 g pot -1, 85% ASM alone and 60% ASM combined with 1.6 g pot -1, respectively.