Grass carp can weaken the growth and reproductive capacity of submerged macrophytes by consuming valuable tissues, but factors affecting palatability of submerged macrophytes for grass carp rarely are considered. In this study, relative consumption rate of grass carp with regard to submerged macrophytes was in the following order: Hydrilla verticillata > Vallisneria natans > Ceratophyllum demersum > Myriophyllum spicatum. Firmness of macrophytes was in the following order: M. spicatum > C. demersum > H. verticillata = V. natans, whereas shear force was M. spicatum > C. demersum > H. verticillata > V. natans. After crude extracts of M. spicatum were combined with H. verticillata, grass carp fed on fewer macrophyte pellets that contained more plant secondary metabolites (PSMs). This indicated that structure and PSMs affected palatability of macrophytes. PSMs do not contribute to reduction in palatability through inhibition of intestinal proteinases activity, but they can cause a decrease in the abundance of Exiguobacterium, Acinetobacter-yielding proteases, lipases, and cellulose activity, which in turn can weaken the metabolic capacity of grass carp and adversely affect their growth. Thus, the disadvantages to the growth and development of grass carp caused by PSMs may drive grass carp to feed on palatable submerged macrophytes with lower PSMs.