Abstract: Soil water resource is very important to the growth and development of plants on the Loess Plateau. Soil and water conservation measures have impacted on the static distribution and dynamic process of the soil water resource. Based on data collected by random survey of soil moisture and compensation degree of soil water storage deficit, the soil moisture dynamics and the compensation characteristics of soil water deficit under different measures of soil and water conservation in the loess hilly and gully region were analyzed. The results show that, no matter before or after rainy season, soil water storage under different measures of soil and water conservation was deficient and then increased in July. In August, soil water storage deficit in surface layer increased. After rainy season, soil water storage deficit was restored by precipitation in October. The compensation effect of precipitation on soil water storage of crop land and terraced land was positive. But this effect was negative at the depth of 90 cm and below 160 cm on the narrow level-belt land, and the depth of 30 cm on the fish-scale-pit land. In the 0～200 cm soil profile, land types were in the descending order of crop land, terraced land, fish-scale-pit land, and narrow level-belt land, in terms of compensation degree of soil water storage deficit. To sum up, soil and water conservation measures can influence the seasonal and vertical variations of soil water storage and the compensation impact of precipitation on soil water.