Bread wheat productivity is constrained by incorrect use of inorganic nitrogen rate and time of application. The objectives of this study were to determine economically feasible rate and time of nitrogen for wheat. Five levels of nitrogen (0, 23, 46, 69 and 92 kg ha-1) and three time (1/2 at the time of sowing and 1/2 at mid tillering stage, 1/3 at the time of sowing and 2/3 at mid tillering stage and 2/3 at time of sowing and 1/3 at mid tillering stage) were tested by using a randomized complete block design with three replicates. SAS software was used to analysis of variance which revealed almost all parameters were significantly (p ≤ 0.01) affected by the main effects of nitrogen rate and its application time, except time of N had no significant effect on thousand kernels weight, straw yield and harvest index, while, their interaction effects had significant effect on grain yield, above ground dry biomass, spike length and plant height. The highest net benefit was obtained from the 92 kg/ha N with 1/3 at the time of seed sowing and 2/3 at mid-tillering stage, which produced high grain yields with the best profitability. Therefore, this treatment could be recommended as best for maximum seed yield of wheat. However, the experiment was carried out only in one location for one cropping season, additional studies at different locations for at least three years or seasons should be conducted.