Wood ash recycling can be a reasonable method for energy producers to decrease waste problems. Using wood ash as a fertilizer or liming material could improve soil macro and micronutrient content in peat soils. Therefore, the effect of wood ash on Norway spruce (Picea abies (L.) Karst) and Scots pine (Pinus sylvestris L.) juvenile growth and nutrient content in the soil after spreading wood ash in medium to high doses before and after planting seedlings was investigated in peat forests in the Eastern part of Latvia. The aim of the study was to evaluate the effect of high doses of wood ash on soil properties and the growth of planted Norway spruce and Scots pine seedlings up to 10 years after experiment establishment. Wood ash was applied a year before planting seedlings in doses of 5 and 10 t ha−1 and right after planting in concentrations of 5, 10, 15, and 20 t ha−1. Changes in macronutrient content (i.e., phosphorus [P], and potassium [K]) and tree height and diameter at breast height were measured at one and 10 years after establishing the experiment. Fertilization one year prior to planting the seedlings exhibited a positive response on tree height and diameter growth compared to fertilization after the seedlings were planted. Soil samples from fertilized plots one year after establishment contained more P and K in the soil than the control plots. Wood ash application of the highest doses did not reach the overdose limit, as the tree growth (height and diameter at breast height) results of fertilized plots were similar to those of the control fields; therefore, no significant negative effect on tree growth was discovered.