The transport of eroded soil to rivers changes the nutrient cycles of river ecosystems and has significant impacts on the regional eco-environment and human health. The Loess Plateau, a leading vegetation restoration region in China and the world, has experienced severe soil erosion and nutrient loss, however, the extent to which vegetation restoration prevents soil erosion export (to rivers) and it caused nutrient loss is unknown. To evaluate the effects of the first stage of the Grain for Green Project (GFGP) on the Loess Plateau (started in 1999 and ended in 2013), we analyzed the vegetation change trends and quantified the effects of GFGP on soil erosion export (to rivers) and it caused nutrient loss by considering soil erosion processes. The results were as follows: (1) in the first half of study period (from 1982 to 1998), the vegetation cover changed little, but after the implementation of the first stage of the GFGP (from 1999 to 2013), the vegetation cover of 75.0% of the study area showed a significant increase; (2) The proportion of eroded areas decreased from 41.8 to 26.7% as a result of the GFGP, and the erosion intensity lessened in most regions; the implementation significantly reduce the soil nutrient loss; (3) at the county level, soil erosion export could be avoided significantly by the increasing of vegetation greenness in the study area (R = −0.49). These results illustrate the relationships among changes in vegetation cover, soil erosion and nutrient export, which could provide a reference for local government for making ecology-relative policies.