Two field experiments were carried out at Sakha farm, Kafr El-Sheikh Governorate during 2016/2017 and 2017/2018 to investigate the effect of irrigation scheduling at different allowable soil moisture depletion (ASMD) levels by using Pan evaporation method (PEM) on wheat yield and water efficiencies at North Delta. Four irrigation treatments; 40, 50, 60, and 70% ASMD denoted as I1, I2, I3 and I4, respectively. The design of the experiment was randomized complete block with three replicates. The obtained results showed that the highest amount of seasonal water applied was recorded under PEM at 60 % ASMD. Meanwhile, the lowest value was recorded with I4 treatment in both seasons. Both of actual water consumptive use and water stored have the same order; I3 > I2 > I1 > I4. The highest water application efficiency values were achieved with I4 treatment. Irrigation treatment (I1) surpassed the other irrigation treatments in increasing the water productivity, productivity of irrigation water, wheat yields and its components as well as grain yield, total seasonal return, net seasonal revenue and benefit cost ratio. Irrigation treatment I1 has superiority in increasing the grain yield by (4.36, 9.86 and 13.18 %) & (1.33, 7.17 and 10.55 %) for I2, I3 and I4, in the 1st and 2nd seasons respectively. Under the conditions of the current study, irrigation treatment I1 (irrigation scheduling by PEM at 40% ASMD) is the proper treatment to obtain the higher production of wheat crop and higher profitability.