Zoning and management of phreatic water resource conservation (PWRC) impacted by underground coal mining in arid and semiarid areas are important for domestic water for local residents, regional ecogeological environment protection, and mining area planning. Using the Yushenfu mining area as a case study, first, the data of thickness and buried depth of first-mined coal seam, thickness and water abundance of phreatic aquifer, and distance between first-mined coal seam and phreatic water (DBFCSPW) were collected in 203 boreholes to establish thematic maps using ArcGIS software. Subsequently, from the perspective of phreatic aquifer failure mechanism and effective thickness of water-resistant layer, zoning for phreatic water leakage was divided into four areas, i.e., severe, moderate, slight, and no water loss areas. Then, combined with phreatic water storage capacity and first-mined coal seam recoverable reserves, a concept of phreatic water resource conservation coefficient (PWRCC) is proposed. On this basis, zoning for PWRCC was carried out. Finally, combined with phreatic water leakage and PWRCC, zoning maps for PWRC with four grades are presented: first, second, third, and fourth class PWRC. Furthermore, phreatic water resource management methods are proposed based on water resource utilization, coal mining methods, and water-resistant layer reconstruction. The research results are important for the sustainability of water resources and rational exploitation of coal resources.