diff --git a/doc/source/whatsnew/v2.0.0.rst b/doc/source/whatsnew/v2.0.0.rst
index 12b0d90e68ab9..1c7e9f09fcf21 100644
--- a/doc/source/whatsnew/v2.0.0.rst
+++ b/doc/source/whatsnew/v2.0.0.rst
@@ -924,6 +924,7 @@ Groupby/resample/rolling
 - Bug in :meth:`.SeriesGroupBy.describe` with ``as_index=False`` would have the incorrect shape (:issue:`49256`)
 - Bug in :class:`.DataFrameGroupBy` and :class:`.SeriesGroupBy` with ``dropna=False`` would drop NA values when the grouper was categorical (:issue:`36327`)
 - Bug in :meth:`.SeriesGroupBy.nunique` would incorrectly raise when the grouper was an empty categorical and ``observed=True`` (:issue:`21334`)
+- Bug in :meth:`.SeriesGroupBy.nth` would raise when grouper contained NA values after subsetting from a :class:`DataFrameGroupBy` (:issue:`26454`)
 
 Reshaping
 ^^^^^^^^^
diff --git a/pandas/core/groupby/groupby.py b/pandas/core/groupby/groupby.py
index 11e8769615470..d7b983367b596 100644
--- a/pandas/core/groupby/groupby.py
+++ b/pandas/core/groupby/groupby.py
@@ -44,6 +44,7 @@ class providing the base-class of operations.
 )
 from pandas._libs.algos import rank_1d
 import pandas._libs.groupby as libgroupby
+from pandas._libs.missing import NA
 from pandas._typing import (
     AnyArrayLike,
     ArrayLike,
@@ -2933,7 +2934,14 @@ def _nth(
             # (e.g. we have selected out
             # a column that is not in the current object)
             axis = self.grouper.axis
-            grouper = axis[axis.isin(dropped.index)]
+            grouper = self.grouper.codes_info[axis.isin(dropped.index)]
+            if self.grouper.has_dropped_na:
+                # Null groups need to still be encoded as -1 when passed to groupby
+                nulls = grouper == -1
+                # error: No overload variant of "where" matches argument types
+                #        "Any", "NAType", "Any"
+                values = np.where(nulls, NA, grouper)  # type: ignore[call-overload]
+                grouper = Index(values, dtype="Int64")
 
         else:
 
diff --git a/pandas/tests/groupby/test_nth.py b/pandas/tests/groupby/test_nth.py
index de5025b998b30..77422c28d356f 100644
--- a/pandas/tests/groupby/test_nth.py
+++ b/pandas/tests/groupby/test_nth.py
@@ -603,8 +603,11 @@ def test_nth_column_order():
 def test_nth_nan_in_grouper(dropna):
     # GH 26011
     df = DataFrame(
-        [[np.nan, 0, 1], ["abc", 2, 3], [np.nan, 4, 5], ["def", 6, 7], [np.nan, 8, 9]],
-        columns=list("abc"),
+        {
+            "a": [np.nan, "a", np.nan, "b", np.nan],
+            "b": [0, 2, 4, 6, 8],
+            "c": [1, 3, 5, 7, 9],
+        }
     )
     result = df.groupby("a").nth(0, dropna=dropna)
     expected = df.iloc[[1, 3]]
@@ -612,6 +615,21 @@ def test_nth_nan_in_grouper(dropna):
     tm.assert_frame_equal(result, expected)
 
 
+@pytest.mark.parametrize("dropna", [None, "any", "all"])
+def test_nth_nan_in_grouper_series(dropna):
+    # GH 26454
+    df = DataFrame(
+        {
+            "a": [np.nan, "a", np.nan, "b", np.nan],
+            "b": [0, 2, 4, 6, 8],
+        }
+    )
+    result = df.groupby("a")["b"].nth(0, dropna=dropna)
+    expected = df["b"].iloc[[1, 3]]
+
+    tm.assert_series_equal(result, expected)
+
+
 def test_first_categorical_and_datetime_data_nat():
     # GH 20520
     df = DataFrame(