Optimal irrigation water depth is a crucial parameter in irrigation engineering, often referred to as root zone depth. It is typically assumed to lie between 1 and 1.5m below the ground surface, depending on the crop and soil types as well as the practitioner's skill and experience. This approach can lead to inefficient irrigation scheduling. Coupling Richards' equation with the Soil Conservation Service Curve Number (SCS-CN) concept and using the three-phase diagram of soil column widely used in geotechnical engineering, this paper suggests an analytical expression for optimal irrigation water depth providing the maximum storage capacity of a soil depending on its hydraulic/storage properties. The results for winter wheat crop in different hydrologic soil groups show that the use of the proposed concept can lead to savings of 71.79% and 57.69% of irrigation water in sandy soils (HSG-A) compared to that used in traditional irrigation considering lump-sum 1.5m and 1m optimal irrigation water depths, respectively. In the case of silty loam soils (HSG-C), these savings can assume 52.42% and 28.62%, respectively. The proposed relation can also be of great help in volumetric assessment of field capacity, moisture content, maximum water storage capacity (of different agricultural soils), and avoiding the issue of waterlogging that may arise from over-irrigation and thus is useful in efficient irrigation scheduling as well as in sustainable agricultural water management.