Peas are a popular crop grown in Poland, but their yields are variable and often low; therefore, new cultivation methods are constantly being sought. In this paper, we present the results of a three-year greenhouse study examining the effect of preparations containing rhizobial Nod factors and/or selected microelements (B, Cu, Fe, Mn, Zn, and Mo) on the physiological parameters, growth, and yield of peas. Pea plants were tested at the flowering stage (BBCH 60), at the green ripe stage (BBCH 75), and at the fully ripe stage (BBCH 90). Leaf area, SPAD, gas exchange parameters, and chlorophyll fluorescence were measured, and the number and mass of root nodules, as well as seed yield and yield components, were determined. The treatment was most effective when Nod factors were used in combination with microelements. The increase in pea yield induced by the application of both components can be attributed to the higher number of pods and seeds per plant because no significant variations were noted in the number of seeds per pod and 1000 seed weight. The number and weight of nodules were significantly correlated with the pea yield, and the value of the correlation coefficients was influenced by the application of both components.