In the process of subtropical forest succession, it has long been recognized that population decline of Masson pines in coniferous-broadleaf mixed forest is caused by shading from broadleaf trees. However, little is known about the mechanism underlying the interaction between them. Here, we first chose two sets of Masson pine plots approximately aged 60 years in subtropical mountainous areas in eastern China (i.e., pure coniferous forest vs. coniferous-broadleaf mixed forest). Then, we measured and compared tree height, diameter at breast height, first branch height (FBH), live crown ratio (LCR) of Masson pines between the two sets of plots, and also determined the difference in growth performance of Masson pines relative to their neighboring broadleaf trees in the mixed forest stand. Compared with plots in pine forests, Masson pines in mixed plots had lower tree height and crown breadth, higher FBH, lower LCR, and leaf area. Furthermore, the difference of mean FBH between reference trees (Masson pines) and their neighboring trees (i.e., broadleaf trees) in mixed forest plots was greater than that in pine forest plots, and the ratio of LCR between Masson pines and their neighbors (0.46) in mixed forest was significantly smaller than in pine forest (1.05), indicating that those broadleaf trees around Masson pines probably affected their growth. The mean distance between Masson pines and neighboring trees (1.59 m) in mixed forest plots was significantly shorter than in pine forest plots (2.77 m) (p < 0.01), suggesting that strong competition may occur between reference trees and their neighbors. There was a significant difference in the ratio of crown volume between reference tree Masson pine and its neighboring trees in mixed forests (p < 0.01), indicating that the ratio of biomass synthesis to consumption of pines was much lower than their nearby broadleaf trees in mixed forest. Our results have demonstrated for the first time that Masson pines’ population decline is affected by shade-tolerant broadleaf late-successional species, which can be primarily attributed to the distinctive light transmittance of dominant species nearby (pure pine vs. mixed forest). This study provides a new perspective for future studies on the mechanism of forest succession.