In this paper, we studied the generalized space and time fractional Korteweg–de Vries (KdV) equation in the sense of the Riemann–Liouville fractional derivative. Initially, the symmetry of this considered equation through the symmetry analysis method was obtained. Next, a one-parameter Lie group of point transformation was yielded. Then, this considered fractional model can be translated into an ordinary differential equation of fractional order via the Erdélyi–Kober fractional differential operator and the Erdélyi–Kober fractional integral operator. Finally, with the help of the nonlinear self-adjointness, conservation laws of the generalized space and time fractional KdV equation can be found. This approach can provide us with a new scheme for studying space and time differential equations of fractional derivative.