Accurate projections of the terrestrial carbon (C) sink are critical to understanding the future global C cycle and setting CO2 emission reduction goals. Current earth system models (ESMs) and dynamic global vegetation models (DGVMs) with coupled carbon‐nitrogen cycles project that future terrestrial C sequestration will be limited by nitrogen (N) availability, but the magnitude of N limitation remains a critical uncertainty. Plants use multiple symbiotic nutrient acquisition strategies to mitigate N limitation, but current DGVMs omit these mechanisms. Fully coupling N‐acquiring plant‐microbe symbioses to soil organic matter (SOM) cycling within a DGVM for the first time, we show that increases in N acquisition via SOM decomposition and atmospheric N2 fixation could support long‐term enhancement of terrestrial C sequestration at global scales under elevated CO2. The model reproduced elevated CO2 responses from two experiments (Duke and Oak Ridge) representing contrasting N acquisition strategies. N release from enhanced SOM decomposition supported vegetation growth at Duke, while inorganic N depletion limited growth at Oak Ridge. Global simulations reproduced spatial patterns of N‐acquiring symbioses from a novel niche‐based map of mycorrhizal fungi. Under a 100‐ppm increase in CO2 concentrations, shifts in N acquisition pathways facilitated 200 Pg C of terrestrial C sequestration over 100 years compared to 50 Pg C for a scenario with static N acquisition pathways. Our results suggest that N acquisition strategies are important determinants of terrestrial C sequestration potential under elevated CO2 and that nitrogen‐enabled DGVMs that omit symbiotic N acquisition may underestimate future terrestrial C uptake.