Research on the runoff and sediment reduction effects of soil and water conservation measures has always been a topic of interest, which is of great significance for carrying out sustainable strategies for soil and water conservation in the Yellow River Basin. This study aims to find the threshold years of soil and water conservation measures for reductions in runoff and sediment. Through the analysis of various soil and water conservation measures, runoff, sediment, and rainfall data in the Sanchuan River Basin from 1960 to 2019, we determined the threshold years of soil and water conservation measures on runoff and sediment processes using the Hydrology and Lagrange Multiplier method. The results are as follows: The trend in flood season rainfall and annual rainfall in the Sanchuan River Basin is consistent. The 1990s was a turning period in the annual rainfall and flood season rainfall of the Sanchuan River Basin. The 2000s was a turning period of the runoff in the Sanchuan River Basin, while the sediment entered a stable period after 2000. The best periods for reducing runoff and sediment were the initial treatment period (1967–1979) and the centralized treatment period (1980–1996). The runoff and sediment reduction effects of each soil and water conservation measure during the initial treatment period (1967–1979) were terrace (32.8%) > dam (30.1%) > grass (18.6%) > forest (18.5%), while their effects during the centralized treatment period (1980–1996) were grass (53.7%) > terrace (20.7%) > dam (14.6%) > forest (11.0%). The runoff and sediment reduction effects of various soil and water conservation measures during different treatment periods indicate that the runoff reduction effect reached its peak in 2003–2005, while the sediment reduction benefit reached its peak in 2013–2015. Based on the comprehensive benefits of runoff and sediment regulation, 2013–2015 are considered to be the threshold years for various soil and water conservation measures, with the measures covering respective average areas of 4.85 × 104, 17.80 × 104, 1.15 × 104, and 0.82 × 104 hm2. These research results will have a certain significance for the reasonable allocation of soil and water conservation measures and sustainable development in the Yellow River Basin.