Based on the 7-year field experiment on the dryland of east Gansu of Northwest China in 2005-2011, this paper analyzed the variations of soil moisture content, bulk density, and nutrients content at harvest time of winter wheat and of the grain yield under no-tillage and conventional tillage and five fertilization modes, and approached the effects of different tillage and fertilization modes on the soil water storage and conservation, soil fertility, and grain yield under winter wheat/ spring corn rotation. In 2011, the soil moisture content in 0-200 cm layer and the soil bulk density and soil organic matter and available nitrogen and phosphorus contents in 0-20 cm and 20-40 cm layers under different fertilization modes were higher under no-tillage than under conventional tillage. Under the same tillage modes, the contents of soil organic matter and available nitrogen and available phosphorus were higher under the combined application of organic and inorganic fertilizers, as compared with other fertilization modes. The soil available potassium content under different tillage and fertilization modes decreased with years. The grain yield under conventional tillage was higher than that under no-tillage. Under the same tillage modes, the grain yield was the highest under the combined application of organic and inorganic fertilizers, and the lowest under no fertilization. In sum, no-tillage had the superiority than conventional tillage in improving the soil water storage and conservation and soil fertility, and the combined application of organic and inorganic fertilizers under conventional tillage could obtain the best grain yield.