An attempt has to manage Parthenium ecologically through utilization as compost, green manure or mulch economically for improving crop production and soil health condition. A field experiment was conducted during 2011-12 and 2012-13 at the B.C. Krishi Viswavidyalaya to utilize Parthenium as green manure or mulch in potential crop sequences of West Bengal. Among treatments, i.e. recommended dose of fertilizer along with green manuring of Parthenium @ 5t ha-1 in rice (Oryza sativa L.) recorded maximum benefit cost ratio being, 1.65. Unlike N1CS1, N1CS2 i.e. recommended dose of fertilizer along with mulching of Parthenium @ 5t ha-1 could also effectively enhance the productivity of rice. This suggests that use of Parthenium as compost, green manure & mulch may enhance the crop yield & economic benefit besides reducing their spread & human health hazards.