A phosphor conversion light-emitting diode (LED) for plant cultivation comprises a semiconductor chip, generating short-wavelength (blue or near-UV) light due to injection electroluminescence, and a wavelength converter containing at least one phosphor, converting the said short-wavelength light to longer-wavelength light due to photoluminescence. The longer-wavelength light contains a far-red spectral component peaking in the spectral range of about 700 nm to 760 nm, corresponding to the absorption spectrum of plant photoreceptor phytochrome of the form Pfr and thus meeting photomorphogenetic needs of plants. The far-red light can be generated by either partial or complete conversion of the short-wavelength light. The LED can emit other spectral components, such as blue and/or red light, which meets other photophysiological needs of plants.