An investigation was carried out during 2010–11 to study the effect of integrated nutrients management after rejuvenating more than 25 years old guava orchard planted at 6x6 m apart under semiarid conditions of eastern Rajasthan. The results revealed that almost all treatments with combined application of organic and inorganic sources of nutrients had significantly increased the fruits yield of guava, soil dehydrogenase activity, NPK content of leaf, fruit and soil over control (only recommended dose of NPK i.e. 500:200:500 g/plant-T1). Among different treatments, application of 2/3 of T1+25 kg FYM+250g Azospirillum +250g Azotobacter/plant (T11) significantly increased the number of fruits/plant (138.33), yield/plant (15.03 kg) and yield/ha (4.18 t) on pooled basis. The soil dehydrogenase activity both at 30 days (3.854 4.040 μg TPF g−1 ha−1) and 60 days (8.022 μg TPF g−1 ha−1) was also higher in this treatment (T11). The leaf N content (2.008%) was higher in T15-(2/3 of T1+5 kg vermicompost + 250g Azospirillum + 250g Azotobacter/plant) while P (0.311%) and K (1.833%) content were higher in T11. The trend of NPK content at harvest was same in the fruit sample also. The available soil N and k content did not make significant impact within two years of experimentation but P content varied significantly with the combined application of various organic and inorganic sources. From the present investigation it is concluded that with the application of 2/3 quantity of recommended dose of fertilizers i.e. 500:200:250 g NPK +25 kg FYM+250g Azospirillum +250g Azotobacter/plant (T11) in rejuvenated guava orchard of cultivar Sardar not only 20% higher fruit yield can be harvested but better plant and soil health can be maintained.