Abstract To investigate the interactive effects of elevated CO 2 and heat stress (HS), we grew two contrasting wheat cultivars, early-maturing Scout and high-tillering Yitpi, under non-limiting water and nutrients at ambient (aCO 2 , 450 ppm) or elevated (eCO 2 , 650 ppm) CO 2 and 22°C in the glasshouse. Plants were exposed to two 3-day HS cycles at the vegetative (38.1°C) and/or flowering (33.5°C) stage. At aCO 2 , both wheat cultivars showed similar responses of photosynthesis and mesophyll conductance to temperature and produced similar grain yield. Relative to aCO 2 , eCO 2 enhanced photosynthesis rate and reduced stomatal conductance and maximal carboxylation rate ( V cmax ). During HS, high temperature stimulated photosynthesis at eCO 2 in both cultivars, while eCO 2 stimulated photosynthesis in Scout. Electron transport rate ( J max ) was unaffected by any treatment. eCO 2 equally enhanced biomass and grain yield of both cultivars in control, but not HS, plants. HS reduced biomass and yield of Scout at eCO 2 . Yitpi, the cultivar with higher grain nitrogen, underwent a trade-off between grain yield and nitrogen. In conclusion, eCO 2 improved photosynthesis of control and HS wheat, and improved biomass and grain yield of control plants only. Under well-watered conditions, HS was not detrimental to photosynthesis or growth but precluded a yield response to eCO 2 . Key message High temperatures increased photosynthetic rates only at eCO 2 and photosynthesis was upregulated after recovery from heat stress at eCO 2 in Scout suggesting that eCO 2 increased optimum temperature of photosynthesis.