This study aims to clarify the optimal fertilization strategy for rice production in Heilongjiang 854 Farm and realize high-yield and high-efficiency cultivation. Taking the local main cultivar ‘Longjing 31’ as the test material, four fertilization treatments were established, including conventional fertilization (CK), conventional fertilization+5%, conventional fertilization+10%, and conventional fertilization+15%. The effects of different fertilization rates on soil physicochemical properties, rice phenology, agronomic traits, yield and economic benefits were systematically investigated. Results indicated that fertilization variation had no significant effects on soil physicochemical properties or rice phenological periods. However, moderate increase in fertilization rate significantly improved rice yield-related traits, such as plant height, tiller number, panicle number, grains per panicle and 1000-grain weight. The treatment with 15% higher than conventional fertilization performed the best, with the actual yield reaching 10305.0 kg/hm², which was 6.25% higher than that of CK. Economic benefit analysis showed that this fertilization regime achieved the highest yield-increasing benefit, with an additional profit of 2763 yuan per hectare, far exceeding the fertilizer cost. In conclusion, moderately increasing fertilization rate can not only effectively improve rice yield but also bring significant economic benefits, providing a scientific basis and optimized technical support for high-yield and high-efficiency rice cultivation.