A field experiment was conducted to determine the effects of organic and inorganic fertilizer applications on soil fertility, productivity, and rice profitability. There were five treatment combinations with four replications laid out in Randomized complete block design (RCBD). The treatments were as follows: T 1 : control, T 2 : farmer's practice (FP), T 3 : recommended rate (RR), T 4 : organic fertilizer (OF), and T 5 : RR 50% + OF 50% . RR 50% + OF 50% application significantly increased soil fertility after harvest. The N and K uptake of rice was also increased under FP and RR treatments. All yield components were increased with FP, RR, and RR 50% + OF 50% treatments, with the consistently highest increase in the FP treatment. The highest grain yield obtained was in FP (6.68 t ha −1 ) followed by RR (6.28 t ha −1 ), RR 50% + OF 50% (6.12 t ha −1 ), and OF (5.25 t ha −1 ), while the lowest yield was recorded in the control treatment (4.67 t ha −1 ). The net income was also increased by 43% in FP, 39% in RR, and 34% in RR 50% + OF 50% over the control. Maximum rice productivity and profitability were both obtained under FP. However, a similar yield and profit increase were also obtained in RR and RR 50% + OF 50% treatments. The results highlighted the importance of combining organic and chemical fertilizers to reduce the cost of fertilizer inputs, increase soil fertility, improve rice yield, and maximize profitability in rice production.