(1) While it is well-known that trees release carbon (C) to soils as root exudates, the factors that control the magnitude and biogeochemical impacts of this flux are poorly understood. (2) We quantified root exudation and microbially-mediated nutrient fluxes in the rhizosphere for four ∼80 year-old tree species in a deciduous hardwood forest, Indiana, USA. We hypothesized that trees that exuded the most carbon (C) would induce the strongest rhizosphere effects (i.e., the relative difference in nutrient fluxes between rhizosphere and bulk soil). Further, we hypothesized that tree species that associate with ectomycorrhizal (ECM) fungi would exude more C than tree species that associate with arbuscular mycorrhizal (AM) fungi, resulting in a greater enhancement of nutrient cycling in ECM rhizospheres. (3) Mass-specific exudation rates and rhizosphere effects on C, N and P cycling were nearly two-fold greater for the two ECM tree species compared to the two AM tree species (P < 0.05). Moreover, across all species, exudation rates were positively correlated with multiple indices of nutrient cycling and organic matter decomposition in the rhizosphere (P < 0.05). Annually, we estimate that root exudation represents 2.5% of NPP in this forest, and that the exudate-induced changes in microbial N cycling may contribute ∼18% of total net N mineralization. (4) Collectively, our results indicate that the effects of roots on nutrient cycling are consequential, particularly in forests where the C cost of mining nutrients from decomposing soil organic matter may be greatest (e.g., ECM-dominated stands). Further, our results suggest that small C fluxes from exudation may have disproportionate impacts on ecosystem N cycling in nutrient-limited forests. •Mycorrhizal type influences annual exudation rates in hardwood forests.•The magnitude of rhizosphere effects is positively correlated to exudation rates.•Modest fluxes of carbon can disproportionately affect ecosystem nitrogen cycling.