Long-term heavy application of inorganic fertilizers is associated with a decrease in soil quality and biodiversity. Organic amendments have been reported to positively affect soil quality; however, relatively little is known regarding soil carbon (C) cycle enzyme kinetic parameters (Vmax and Km), community-level physiological profiles (CLPP), and the interactions between these factors and soil microbes and physicochemical properties under sustained organic amendment. Therefore, this study aimed to evaluate the effect of organic amendments on crop yield, soil chemical properties, microbial activity, enzyme kinetic parameters of five extracellular C cycle-related hydrolase enzymes, and soil microbial functional diversity in wheat-maize (WM) and wheat-soybean (WS) rotation crop systems. The results of the study showed that combined application of organic and inorganic fertilizers increased crop yield (6.81–17.47%), soil total organic C (TOC, 29.44–39.54%), total nitrogen (TN, 24.22–50.79%), available potassium (AK, 39.47–59.62%), total dissolved nitrogen (TDN, 19.68–33.75%), dissolved organic C (DOC, 14.54–55.10%), available phosphorus (AP, 34.81–243.90%), and microbial biomass C and nitrogen (MBC, 17.65–40.86% and MBN, 18.63–50.76%) concentration. The combined application also enhanced microbial growth when compared with an inorganic amendments regime. Additionally, the combined application of organic and inorganic fertilizers increased soil microbial activity and catabolic diversity and maintained a high substrate-induced respiration (SIR) value. Furthermore, the conversion from a WM rotation to a WS rotation increased both soil pH and microbial biomass, and the resultant soil exhibited lower potential activity and higher enzyme-substrate affinity. Overall, the findings of this study showed that an increase in soil microbial biomass is a key determinant of microbial catabolic activity and functional diversity.