Nicotinamide adenine dinucleotide (NAD+) and nicotinamide adenine dinucleotide phosphate (NADP+) acts as an integral regulator of core energy metabolism, regulation of growth and development process and stress response in plants, which can directly and indirectly influence many key cellular functions. As the cornerstone of cell metabolism, the maintenance of intracellular NAD(P)+ homeostasis is crucial for normal plant growth and development, and stress response. Impaired or deficient synthesis of NAD(P)+ in plant cell can trigger metabolic disorders and a series of defective phenotypes, and may even lead to plant death in severe cases. Currently, NAD(P)+ biosynthesis pathway and its key enzymes have been well studied in plants. However, the regulatory mechanisms of its synthesis, translocation, consumption, and recycling transformations in plants are still unclear. Isolating NAD(P)+ deficient mutants is crucial for analyzing the regulatory mechanisms of NAD(P)+ homeostasis in plants and and its regulation of plant development and stress responses. This paper reviews the biosynthetic metabolic pathways of plant NAD(P)+, focuses on the participation of NAD(P)+ in plant growth and development, and stress response processes, and looks forward to the research prospects of plant NAD(P)+.