The objective of this experiment was to determine the effect of different regulated deficit irrigation (RDI) strategies on productivity, oil quality and water-use efficiency on olive grown in the Sonoran Desert. The experiments were carried out in 2009 and 2010, and in a ten years old traditional (10 × 5 m) "Manzanilla" olive orchard. The control treatment was irrigated at 100% ETc during the whole season while RDI treatments were applied at 75% ETc or 50% ETc. The two RDI were applied during two phenological stages: at postharvest to evaluate the effect on table olive or from pit hardening to harvest to evaluate the effect on oil olive. Our results indicated that RDI applying 50% ETc during postharvest period reduced significantly fruit set and table olive yield, while applied during pit hardening to harvest period, it decreased oil yield but increased oil content. The RDI applying an ETc of 75% during the postharvest period gave similar table olive yield to the control, and applied form of pit hardening to harvest also gave similar oil yield to the control. The RDI using an ETc of 75% resulted in the highest water-use efficiency for oil or table olive production.