The relationships between water potential and water content in plants and soil have long been of interest, and there is increasing focus on understanding how these fundamental measures are linked at larger spatial and temporal scales. In this Perspective, we explore how the theory of pressure-volume (PV) relationships can be applied at ecosystem scale. We define and evaluate the concept and limitations of the ecosystem and vegetation pressure-volume curves and discuss its application using existing data. As a proof of concept, plot-scale aboveground vegetation PV curves were generated from equilibrium (e.g. predawn) water potentials and water content of the above ground biomass of nine plots including tropical rainforest, savanna, temperate forest, and a long-term Amazonian rainforest drought experiment. Initial findings suggest high consistency among sites where the steady-state water:biomass ratio is approximately 1:3, while the relative values of ecosystem hydraulic capacitance and accessible water storage (the water volume between saturation and a threshold) do not vary systematically with biomass. The ecosystem-scale PV relationship provides a thermodynamically consistent steady-state view of ecosystem form and function and a biophysically robust basis for the interpretation of remote sensing data of vegetation and soil water content, with promise for revealing useful trends across ecosystems.