In recent years, monoculture and multi-rotation successional Eucalyptus plantations have given rise to several environmental issues, including the degradation of soil quality and nutrient imbalance, and the conversion of logging sites to multi-rotation Eucalyptus plantations has attracted considerable attention from the scientists involved. However, the effects of different management strategies on soil extracellular enzyme activities (EEAs) and enzyme stoichiometry (ES) in degraded Eucalyptus plantations are not clear. In this study, we investigated the responses and mechanisms of soil physicochemical properties, microbial biomass, carbon, and nitrogen- and phosphorus-acquiring enzyme activities, as well as the microbial resource requirements of Eucalyptus plantations, under different management strategies. The findings revealed that second-rotation (TWE) and third-rotation (THE) continuous plantings of pure Eucalyptus plantations resulted in significant decreases in soil organic carbon (SOC), total nitrogen (TN) and effective available phosphorus (AP) contents, while soil nutrient contents increased after the introduction of Manglietia glauca to form mixed forests (EM) with Eucalyptus or pure Manglietia glauca (M). Meanwhile, phosphorus-acquiring enzymes significantly increased with successive rotations of Eucalyptus (TWE and THE), while EEAC:P and EEAN:P gradually decreased and phosphorus limitation gradually increased compared to that of a native-species-mixed plantation (CK). After the introduction of Manglietia glauca (EM and M), phosphorus-acquiring enzyme activities showed lower levels and there were significant increases in EEAC:P and EEAN:P compared to those of continuous plantings of pure Eucalyptus plantations, which reduced microbial phosphorus demand. Moreover, soil nutrients played a more significant role in altering the EEAs and ES than did microbial biomass (0–10 cm: 72.7% > 53.3%, 10–20 cm: 54.5% > 32.6%). The results showed that EM and M improved soil fertility quality conditions and alleviated soil nutrient phosphorus limitations for soil microorganisms. Therefore, the introduction of Manglietia glauca, either to form mixed forests with Eucalyptus or in rotation with Eucalyptus, can be used as technical means for the conversion of multi-rotation successive Eucalyptus plantations.