In the North China Plain (NCP), the utilization efficiency of cultivated land can be improved by transplanted cotton after winter wheat harvest (TCWWH). To understand the growth, water consumption and economic benefit of TCWWH under different irrigation methods, an irrigation experiment was carried out during 2013-2015 to explore the effects of border irrigation (BI), surface drip irrigation (SDI) and micro-sprinkling hose irrigation (MHI) on the plant development, water use efficiency (WUE) and economic benefit of TCWWH. The results showed that the survival rate of cotton seedlings in the SDI treatment was 12% and 7% larger than that in the BI and the MHI treatments, respectively. SDI increased plant height by 19% and 8% and increased leaf area index (LAI) by 24% and 17%, compared with BI and MHI, respectively. The highest seed cotton yield and better fibre quality were obtained in the SDI treatment, compared to the BI and the MHI treatments. Compared with BI and MHI, SDI reduced the soil evaporation and evapotranspiration (ET) in the field, and resulted in the largest WUE. The net profit generated by the SDI treatment exceeded that of the BI and the MHI treatments by 183% and 23%, respectively. Therefore, SDI can promote the growth of TCWWH and can increase the WUE and the economic benefit of TCWWH, compared with BI and MHI.