C, N and P are the key biogenic elements of terrestrial ecosystems, and their biogeochemical processes regulate nutrient cycling and play a key role in restoring degraded ecosystems. In this paper, the grassland ecosystem under artificial restoration measures (Dactylis glomerata (DG), Lolium perenne (LP), Lolium perenne + Trifolium repens (LT)), and the natural restoration measures (NG) in a typical karst plateau desertification control area of southwest China, were taken as the research object. The C, N, and P concentrations and the ecological stoichiometry of the plant–soil–microorganism system in grasslands under different restoration measures in the karst desertification area were explored. We established the following findings: (1) Compared with NG, the C, N and P concentrations of plants and soil in DG, LP and LT were higher, and LT was the highest. (2) The microbial biomass carbon (MBC), microbial biomass nitrogen (MBN) and microbial biomass phosphorus (MBP) concentrations in LT was also the highest. (3) The C:N ratio of plant and soil indicated that the N mineralization and nutrient release rate of DG, LP and LT were stronger than that of NG, and the plant growth of NG was most seriously limited by nitrogen. The N:P ratio in plant and soil indicated that the grassland was limited by P in the four treatments. (4) The result of correlation analysis showed that the cycling process of C, N and P in the plant–soil–microorganism system was coupled, and that the elements closely affected each other. In general, the effect of artificial restoration on a degraded ecosystem was relatively better than the natural restoration for increasing plant, soil and microbial nutrient concentrations, especially in the mixed-seed ecosystem of leguminous and gramineous forage. However, in the future, grassland management, appropriate N fertilizer or N-fixing plants and P fertilizer should be considered to improve the limitation of plant N and P, so as to realize the sustainable development of grasslands and the restoration of degraded ecosystems in the karst desertification control area.