Combining deep tillage (DT) with lime application at greater depths may improve sugarcane yield. The objective of this study was to evaluate the impact of conventional tillage (CT) and DT systems and liming on sugarcane productivity and soil physical attributes. The experiment was conducted in a clayey‐textured Rhodic Hapludox soil cultivated with sugarcane for two growing seasons (first and third ratoons) using a randomized block design with four treatments and four repetitions. The treatments consisted of DT without liming (DT0), DT with liming (DT2), CT without liming (CT0) and CT with liming (CT2). In addition to sugarcane stalk and sugar yields, macroporosity (MA), microporosity (MI), total soil porosity (TP), weighted average diameter (WAD), aggregate stability index (ASI), soil penetration resistance (SPR), pH, potential acidity (H + Al), total soil organic carbon (SOC), particulate organic carbon (POC), mineral‐associated organic carbon (MOC), calcium (Ca) and magnesium (Mg) were analysed. DT2 promoted the best soil conservation effect on sugarcane. In general, DT, regardless of lime application, reduced SOC and POC in soil surface layer. Nevertheless, in the long term, localized lime addition resulted in significant reductions in compaction, reaching values below 2 MPa. The soil fertility improvement provided by DT2 promoted increased sucrose concentrations and stalks yield. Considering that there was an improvement in the physical quality and fertility of soil for better plant development, the deep tillage with localized lime addition can be considered an effective alternative for sugarcane cultivation.