AbstractPhosphorus is believed to be the globally limiting nutrient in the modern ocean, but a number of nutrients have been invoked as limiting the Proterozoic biosphere. Mass balance calculations suggest that Proterozoic net primary productivity must have been 1 to 2 orders of magnitude less than today in order to maintain low oxygen levels despite increased burial efficiency in anoxic environments. The resulting demand for nutrients is so low that nitrogen, molybdenum, and iron could not have limited the rate of primary production following the evolution of extant nitrogenases. Phosphorus demand was approximately equal to the modern riverine flux, making phosphorus the most likely candidate for the limiting nutrient throughout the Proterozoic.