Excessive anthropogenic nitrogen fixation alters the nitrogen cycle and increases nitrogen deposition, leading to nitrogen saturation, which in turns leads to forest decline and nitrate leaching into stream waters. Kureha Hill in Toyama Prefecture, Japan, is considered to be in nitrogen saturation, since many streams have contained high concentrations of nitrate for more than 20 years. In this study, the latest status of nitrogen saturation was verified by comparing most recent data with 20 years observational data, focusing on various indicators of nitrogen saturation, such as stream water quality, nitrogen budget of the watershed, and soil nitrification and mineralization potential. Both the nitrogen deposition on the Hyakumakidani watershed on Kureha Hill and the amount of nitrate leaching to the stream tended to decrease. The reduction in nitrate leaching could be attributed to the reduction in nitrogen deposition and other factors, such as nitrogen pools in the soil. Despite the recent decline in nitrate concentration of the Hyakumakidani stream, the pH level has remained unchanged. This may be due to decreased concentrations of sulfate and acid neutralizing capacity (ANC). The C/N ratio of the soil ranged from 12 to 18 from 2000 to 2023, which was lower than the nitrogen saturation threshold of 25. The net nitrification rate and net mineralization rate showed no significant changes between 2002 and 2023, indicating that the potential to produce nitrate has been unchanged. Similar values in net nitrification and net nitrogen mineralization rates reflected that the Hyakumakidani watershed remained in Stage‐3 nitrogen saturation.