The present study aimed at investigating the iron (Fe) efficiency of rice cultivars with respect to Fe dynamics in the rhizosphere. A pot plant experiment was conducted using Fe-deficient (Diethylenetriamine pentaacetate-extractable Fe 2.41 mg/kg) loamy sand soil (pH 7.9, EC 0.24 dS m−1, and SOC 0.5%). Rice cultivars PR 114, PR 121, PR 126, PR 127 and PR 129 were grown in pots containing 5 kg soil. Treatments included foliar sprays of 0, 0.5 and 1.0% FeSO4 7H2O solution in triplicates. In no Fe spray treatment, rice cultivars produced 52–87% of the maximum shoot dry matter (SDM), which was achieved through foliar Fe. Considering the relative SDM as a measure of Fe efficiency, cv. PR 126 was the most efficient, followed by PR 129, PR 127, PR 121 and PR 114. In no-Fe spray treatment, PR 114 produced 60%, while PR 126 produced 55% of the maximum root length. Calculations with steady-state model demonstrated that in the absence of Fe spray application, cv. PR 126 developed 1.6-fold higher concentration gradient than PR 114 due to the depletion of Fe at root surface that derived 1.5-fold higher Fe influx. Cultivar PR 126 had lesser roots and lower root-to-shoot ratio but was more Fe efficient because of highest Fe influx and shoot demand on roots resulting from better Fe uptake mechanism.