This study aimed to investigate the effects of different light-emitting diode (LED) light-quality combinations on the growth and development of Chrysanthemum morifolium tissue-cultured plantlets and to identify the optimal light-quality combinations for adventitious shoot induction and rooting. Six LED light-quality combinations consisting of red (R), blue (B), and far-red (Fr) light (80%R + 20%B, 70%R + 30%B, 60%R + 40%B, 80%R + 20%B + Fr, 70%R + 30%B + Fr, and 60%R + 40%B + Fr) were evaluated, with a fluorescent lamp serving as the control (CK). The responses to different light-quality combinations varied markedly between the adventitious shoot induction and rooting stages. During adventitious shoot induction, the carotenoid content, soluble protein content, and POD activity were highest under the 70%R + 30%B treatment, whereas chlorophyll a, chlorophyll b, total chlorophyll, and CAT activity reached their highest levels under the 70%R + 30%B + Fr treatment. The highest soluble sugar content and SOD activity were observed under the 60%R + 40%B + Fr treatment. These results suggest that the incorporation of far-red light into red–blue light combinations promoted photosynthetic pigment synthesis, photosynthate accumulation, and antioxidant capacity, thereby facilitating adventitious shoot induction. During the rooting stage, the greatest leaf number and SOD activity were observed under the 70%R + 30%B treatment, while the highest chlorophyll a, chlorophyll b, and total chlorophyll contents were obtained under the 60%R + 40%B + Fr treatment. Plant height, leaf length, root length, fresh mass, dry mass, carotenoid content, soluble protein content, and CAT activity were highest under the 60%R + 40%B treatment. These findings indicate that red–blue mixed light effectively promoted leaf and root development, photosynthetic pigment synthesis, biomass accumulation, and maintenance of antioxidant capacity. Therefore, the 70%R + 30%B + Fr and 60%R + 40%B + Fr treatments were identified as the most suitable light-quality combinations for adventitious shoot induction, whereas the 60%R + 40%B treatment was the most suitable for rooting of C. morifolium tissue-cultured plantlets.