In farmers’ participatory trials carried out in five different villages of Brahmagiri Block in the Puri district of Orissa, the relative contribution of improved variety and integrated weed management practices to grain yield and economics of deepwater rice was evaluated. The yield was significantly improved due to adoption of improved variety. The improved variety, Durga produced 68% more yield than the traditional variety, Dhuia Bakui. In contrast, the adoption of integrated weed management practices alone enhanced the grain yield to the tune of 49% over traditional weed management practices. The overall yield enhancement due to adoption of improved variety combined with integrated weed management practices was 143% over cultivation of traditional variety with traditional weed management practices. The highest net monetary return (Rs. 5383 ha^-1) and benefit:cost ratio (1.66) was recorded in the treatment where improved variety was grown with integrated weed management practices.