Plant growth in arctic tundra is known to be commonly limited by nitrogen. However, biogeochemical interactions between soil, vegetation and microbial biomass in arctic ecosystems are still insufficiently understood. In this study, we investigated different compartments of the soil-vegetation system of polygonal lowland tundra: bulk soil, inorganic nutrients, microbial biomass and vegetation biomass were analyzed for their contents of carbon, nitrogen, phosphorus and potassium. Samples were taken in August 2011 in the Indigirka lowlands (NE Siberia, Russia) in a detailed grid (4 m × 5 m) in one single ice-wedge polygon. We used a stoichiometric approach, based on the N/P ratios in the vegetation biomass and the investigated soil fractions, to analyze limitation relations in the soil-vegetation system. Plant growth in the investigated polygonal tundra appears to be co-limited by nitrogen and phosphorus or in some cases only limited by nitrogen whereas potassium is not limiting plant growth. However, as the N/P ratios of the microbial biomass in the uppermost soil horizons were more than twice as high as previously reported for arctic ecosystems, nitrogen mineralization and fixation may be limited at present by phosphorus. We found that only 5 % of the total nitrogen is already cycling in the biologically active fractions. On the other hand, up to 40 % of the total phosphorus was found in the biologically active fractions. Thus, there is less potential for increased phosphorus mineralization than for increased nitrogen mineralization in response to climate warming, and strict phosphorus limitation might be possible in the long-term.