As a journalist, Petrescu made himself known as one of the editors of the magazine Gândirea, alongside Nichifor Crainic and Lucian Blaga.

For a long time, he was a member of the National Peasants' Party, and wrote extensively for its press, especially for Aurora.

His major work consists of novels such as Întunecare ("Darkening"; 1928), Calea Victoriei (the name of a Bucharest avenue; 1930), Dumenica orbului ("The Blind Man's Sunday"; 1934), and Noi vrem pământ ("We Demand Land"; 1938).

Despite having directed the newspaper România, the organ of king Carol II's personal regime (1938-1940), and justified the antisemitic by-laws and laws of June-August 1940, Petrescu became a member of the Academy of the Romanian People's Republic in 1955.

[2] Streets are named after him in Brăila, Bucharest, Bușteni, Cluj-Napoca, Dumbrăvița, Iași, Mangalia, Păun, Roman, and Târgu Jiu.