Plant-derived products rely heavily on the availability of phosphorus (P) in the soil. With reserves of P-rocks being limited, there is a growing demand to enhance the efficiency of P utilization by crops. Eucalypts, an important economic crop in many countries, is a source of timber, coal, essence oils, and cellulose. After identifying low P tolerant and susceptible species in a previous study, we explored the various physiological and biochemical responses of these same species to low P availability. The aim was to expand our understanding of how different P-nutrition responses might impact eucalypt wood production and traits related to its quality. Our results indicate that low soil P minimally affects physiological wood parameters in the young trees of Eucalyptus acmenoides, Corymbia maculata, E. grandis, E. globulus, and E. tereticornis. Decreases in cellulose contents and increases in lignin content and syringyl and guaiacyl (S/G) ratios were observed under low P and only in E. acmenoides plants. Wood density remained unaffected in all species. Additionally, bark, stem, and root P concentrations increased under sufficient P conditions in E. globulus, E. grandis, and E. tereticornis. These findings suggest that these plant parts may act as reserve pools of this nutrient.