An experiment was conducted during the rainy seasons of 1987-1989 to study the economics of fertilizer use in pigeonpea [Cajanus cajan (L.) Millsp.] + soybean [Glycine max (L.) Millsp.] intercropping system. The maximum pigeonpea yield was recorded when pigeonpea + soybean grown with 100 + 75% nutrients, whereas reverse was true with soybean (75 + 100% nutrients). The land-equivalent ratio, income-equivalent ratio, monetary advantage and net return were highest under 100 + 75% nutrients, whereas 50 + 50% nutrient application to each crop showed negative monetary advantage. The maximum ratio was noted in sole pigeonpea as compared to intercropping system, whereas highest benefit : cost ratio was in intercropping system with 100 + 75% nutrients application.