1. Invertebrate herbivory was studied in twenty‐eight populations of the submerged macrophyte Potamogeton perfoliatus in Danish streams and lakes in mid‐June. All populations but one experienced invertebrate herbivory and loss ranged from 0 to 11.9% of leaf area among populations. Loss generally increased with leaf age towards the base of the plants, and young apical leaves were rarely damaged. 2. Herbivory loss was significantly higher in streams (mean 5.0%) than in lakes (mean 2.2%), but varied greatly among populations within the same stream or lake and was not correlated to physico‐chemical site characteristics, size or density of plant population, or leaf N and P content. High levels of invertebrate herbivory were therefore not associated with certain types of streams or lakes. 3. High herbivore biomass relative to abundance of plants was conducive to high loss. In streams, the biomass of the trichopteran Anabolia nervosa accounted for 50% of the variability in loss. No single species appeared to be equally important in lakes, although loss was correlated to the biomass of the chrysomelid beetle Macroplea appendiculata. Obligate herbivores, such as lepidopteran larvae, apparently exerted little damage on P. perfoliatus, and leaf mining and channelization from specialist feeders were negligible. It is concluded that shredders acting as facultative herbivores were the most important invertebrate herbivores on P. perfoliatus in Danish freshwaters.