<p><i>Ocimum basilicum</i> L. (Basil) was cultivated to evaluate the effect of nutrient solution; Hoagland (T1) and Thakur (T2), on plant growth biomass, physiological performance, antioxidant potential, and chemical composition under hydroponic conditions. The same nutrient solution was also tested in pot cultivation containing sand, cocopeat, vermiculite, and perlite growing substrates. Besides this, plants were also grown under the pot and in open field conditions irrigated with tap water and observed for comparison with treatments. In the study, sterilized healthy seedlings were transplanted in hydroponic growth boxes and pots under the following conditions: temperature 25 ± 2&#xa0;°C, humidity 65 ± 5%, electrical conductivity 0.5–2.5 mS cm^− 1, pH 6.8–7.0, and photosynthetic photon flux density (PPFD) 150 µmol m^− 2 s^− 1. The vegetative growth (stem length; 25.6&#xa0;cm, the number of leaves; 39.1), photosynthetic rate (10.1 µmol m^− 2 s^− 1), and antioxidant activity (IC₅₀; 1.14&#xa0;mg/mL) were estimated maximum in plants treated with T1 nutrient solution compared to T2 under hydroponic cultivation. Total phenol (17.1&#xa0;mg/g; DW) and total flavonoids (54.6&#xa0;mg/g; DW) content were found to a maximum in T1-treated hydroponically grown basil plants. Twenty-three volatile compounds were identified using gas chromatography-mass spectrometry, with neophytadiene (29.8%), eugenol (28.8%), and methyl eugenol (22.0%) being the most abundant in the leaf extract of basil grown in hydroponic and pot conditions. Therefore, in conjunction with nutrient management practices, hydroponic cultivation can serve as an alternative approach to producing metabolite-enriched, high-quality biomass in <i>O. basilicum</i>.</p> Graphical abstract <p></p>