In order to investigate different irrigation regimes effects, water productivity and proper yield achievement in rice rotation, a research was conducted in factorial based on randomized complete blocks design with three replications at the experimental field of Rice Research Institute (Amol), in 2011. Treatments were four irrigation levels including alternative wetness and dryness (AWD), semi-dry cultivation (SDC), low depth with wetness and dryness combination (SWD), traditional irrigation method (TI) and two rice cultivars of Tarom (Local cultivar) and Fajr (improved cultivar). Results of variance analysis showed that cultivars and irrigation regimes differed significantly in water productivity and paddy yield. However, cultivar×irrigation regimes interaction was not significant. AWD irrigation regime by 4481.70 cubic meter per hectare water productivity (about 39.5 percent more conserved water), gross income to production cost ratio of 1.89 with only 7.6 percent reduction in net profit per area unit (from 44957916 to 41559671 Riyal per hectares) showed the best efficiency in comparison with other irrigation regimes (especially traditional irrigation). Following that, SDC irrigation regimes with gross income to production cost ratio of 1.86 and with about 45.5 percent more water productivity than Ti and 11.5 percent reduction in net profit per area unit (from 44957916 to 39803690 Riyal per hectares). Overall, according to economic analysis, SDC and AWD irrigation regimes should be presented as the superior treatments.