Vegetation degradation, due to climate change and human activities, changes the biomass, vegetation species composition, and soil nutrient input sources and thus affects soil nutrient cycling and enzyme activities. However, few studies have focused on the responses of soil nutrients and enzymes to vegetation degradation in high-altitude wet meadows. In this study, we examined the effects of vegetation degradation on soil nutrients (soil organic carbon, SOC; total nitrogen, TN; total phosphorus, TP) and enzyme activities (i.e., urease, catalase, amylase) in an alpine meadow in the eastern margin of the Qinghai-Tibet Plateau. Four different levels of degradation were defined in terms of vegetation density and composition: primary wet meadow (CK), lightly degraded (LD), moderately degraded (MD), and heavily degraded (HD). Soil samples were collected at depth intervals of 0-10, 10-20, 20-40, 40-60, 60-80, and 80-100 cm to determine soil nutrient levels and enzyme activities. The results showed that SOC, TN, catalase and amylase significantly decreased with degradation level, while TP and urease increased with degradation level (P < 0.05). Soil nutrient and enzyme activity significantly decreased with soil depth (P < 0.05), and the soil nutrient and enzyme activity exhibited obvious "surface aggregation". The activities of soil urease and catalase were strongest in spring and weakest in winter. The content of TN in spring, summer, and autumn was significantly higher than observed in winter (P < 0.05). The soil TP content increased in winter. Soil amylase activity was significantly higher in summerm than in spring, autumn, and winter (P < 0.05). TP was the main limiting factor for plant growth in the Gahai wet meadow. Values of SOC and TN were positively and significantly correlated with amylase and catalase (P < 0.05), but negatively correlated with urease (P < 0.05). These results suggest the significant role that vegetation degradation and seasonal freeze-thaw cycle play in regulating enzyme activities and nutrient availability in wet meadow soil.