Exogenous glycine betaine (GB) or hydrogen peroxide (H₂O₂) application has not been explored to mitigate waterlogging stress in Andean fruit trees. The objective of this study was to evaluate foliar GB or H₂O₂ application on the physiological behavior of Cape gooseberry plants under waterlogging. Two separate experiments were carried out. In the first trial, the treatment groups were: (1) plants without waterlogging and with no foliar applications, (2) plants with waterlogging and without foliar applications, and (3) waterlogged plants with 25, 50, or 100 mM of H₂O₂ or GB, respectively. The treatments in the second trial were: (1) plants without waterlogging and with no foliar applications, (2) plants with waterlogging and without foliar applications, and (3) waterlogged plants with 100 mM of H₂O₂ or GB, respectively. In the first experiment, plants with waterlogging and with exogenous GB or H₂O₂ applications at a dose of 100 mM showed higher leaf water potential (−0.5 Mpa), dry weight (1.0 g), and stomatal conductance (95 mmol·m⁻²·s⁻¹) values. In the second experiment, exogenously supplied GB or H₂O₂ also increased the relative growth rate, and leaf photosynthesis mitigating waterlogging stress. These results show that short-term GB or H₂O₂ supply can be a tool in managing waterlogging in Cape gooseberry.