A field trails were conducted during the two growing winter seasons of 2015/2016 and 2016/2017 at Sakha Research station , Kafr El-sheikh Governorate to study the effect of four irrigation regimes; cut-off irrigation at 100% (I1), 90%(I2), 85%(I3) of the furrow length and alternative furrow irrigation (I4), and four fertilization treatments; F1 (100% of recommended phosphorus (RP)) as control, F2 (75% RP+ phosphorien), F3 (65%RP+ phosphorien) and F4 (50%RP+ phosphorien) on Faba bean yield, some water relations, ground water table contribution and economic returns. The obtained results showed that water applied and water consumptive use could be arranged in descending order as; I1 > I2 > I3 >I4 in both seasons. Water saving by I2, I3 and I4 treatments were 4.64, 10.92 and 22.55%, respectively, comparing to I1-Treatment. Both of (I3) and (F3) treatments gave the highest increasing percent of the seed yield of faba bean and most its components, in both seasons. The highest values of water consumptive use, water application and water distribution efficiencies and ground water contribution were recorded under (I4) in both seasons. The combination of I4 and F3 treatments surpassed the other treatments in increasing water productivity and productivity of irrigation water for seed and straw yields, net return, net return from water unit and economic efficiency of faba bean seed and biological yields in both seasons. It can be concluded that I4 or I3 in combination with F‌3 is the proper treatments to obtain higher production of faba bean, water saving and economic returns.