The long dry periods in Bahia Southwest can harm the eucalyptus cultivation, which is the most important forestry specie cultivated in this region. This research aimed to evaluate the physiological responses of eucalyptus clones, grown in a greenhouse under water deficit. The experiment was carried out in a completely randomized design, and the treatments were a factorial 4x2 (VM01, VCC0865, AEC0144 and AEC0224 clones, under irrigated and non irrigated water regimes) with four replications and two plants per plot. The seedlings were 90 days old and the acclimation was carried out in a greenhouse, with irrigation, for 60 days. After the acclimation, irrigation was interrupted to a group of plants, and the following evaluations were started: leaf water potential ([PSI] w), water relative content (TRA), transpiration (E), stomatal conductance (gs), photosynthesis (A) and C [O. sub. 2] internal concentration (Ci). Significant changes were observed in all variables. There was a decrease in [PSI] w, TRA, E, gs and A, whereas increased Ci. The [PSI] w and TRA decreases showed no significant differences among the clones. In relation to A, this decrease was lower in VM01 clone.