Potassium (K) is fundamental to the synthesis and translocation of sucrose from the leaves to the storage tissues in cane stalks. Agronomic value of Potassium (K) helps with increased cane volume, girth and weight per cane, drought and disease resistance and reduced lodging. In the absence of an adequate K supply, the height of millable stalks at harvest and to a lesser degree the number of stalks may be impaired. Potassium (K) is acting mainly as an enzyme activator in plant metabolism, plays a significant role in controlling the hydration and osmotic concentration within the stomata guard cells. The importance of a balanced nutrition particularly between nitrogen (N) and K in the attainment of the maximum yield should also not be overlooked. K fertilization of sugarcane must be kept just adequate to produce an optimum yield from the millable canes. Field experiments were conducted on alluvial soil during 2015-16 and 2016-17 using different combinations of treatments of potassium and nitrogen for the sugarcane crop of variety Co 0238. From the results of several physicochemical and nutritional parameters of sugarcane such as length, diameter, number of leaves, weight, millable canes, yield, available N, P & K, Brix, pol% cane, purity and benefit : cost ratio; it was observed that the treatment no 8 (N240 K120 Kg ha-1) showed maximum economic yield and cane quality. It was indicated that application of K in the range of 120 or 180 kg/ha with combination of N will provide good yield and yield, B :C ratio of sugarcane crop and will help in sustaining soil health.