The research aimed to measure the economic effects of applying modern irrigation systems (fixed sprinkler, center pivot and drip irrigation) on wheat crop compared to the flood irrigation system in Sharkia Governorate Egypt. Thy study was conducted using a stratified random cluster sample of 318 holders of the New Salhia district in Sharkia Governorate for the agriculture season 2020/2021. Results revealed that there is a water deficit in Egypt and Sharkia Governorate estimated at about 21.38 and 0.96 billion m3, respectively, in the year 2019-2020, which is covered by the reuse of wastewater (agricultural, sewage and industrial) and groundwater from the shallow reservoir in the valley and the delta. The cultivated area in Egypt and the governorate are irrigated by flood irrigation at a rate of about 76.74% and 76.71% of their total area, which is about 9.333 million feddans and 0.903 million feddans, respectively in the year 2019-2020. Drip irrigated farms outperform farms irrigated by flood and fixed and pivotal sprinklers in terms of indicators of economic efficiency and productivity. It was also found that wheat farms irrigated by immersion and fixed spraying operate within the range of economic combinations of production inputs with production elasticity amounting to about 1.516 and 1.390, respectively, in contrast to wheat farms irrigated by center pivot and drip irrigation that operate in the economic stage with production elasticity amounting to about 0.319 and 0.292, respectively. The research recommends the need to develop an appropriate policy to replace the flood irrigation system with one of the appropriate modern irrigation systems, especially the drip irrigation system, with the provision of facilities and soft and long-term loans.