The　restoration　and　reconstruction　of　desertified　grassland　has　been　continually　initiated　by　the　central　government　of　China　since　1995,　and　the　ecological　benefits　of　grassland　restoration　gained　attention　both　home　and　abroad.　In　particular,　the　water　conservation　function　of　grassland　is　regarded　as　the　primary　indicator　of　the　ecosystem＇s　restoration　and　is　one　of　the　most　important　grassland　ecosystem　services.　Changes　in　water　conservation　are　related　to　the　water　cycle　and　global　climate　change.　The　present　study　investigates　the　moisture　and　physicochemical　properties　of　desertified　grassland　soil　over　several　years　(managed　sample　plot　in　1995,　2007,　2009,　2010,　and　2011;　non-managed　sample　plot　in　2012;　and　normal　grazing　area　in　2012)　in　Zoigê　County,　using　both　field　investigation　and　experiments　to　analyze　the　dynamics　of　water　conservation　and　its　determinants.　During　the　recovery　process,　1)　Soil　texture　had　changed　that　tight　sandy　soil　was　gradually　converted　to　sandy　loam,　water　conservation　and　fertilizer　preservation　capacity　were　increased,　and　bulk　soil　density　decreased　from　1.7　g/cm3　in　the　non-managed　area　to　1.3　g/cm3　in　the　normal　grazing　area.　2)　Soil　pH　value　decreased　from　7.6　to　6.7　with　the　duration　of　management,　and　according　to　the　classification　of　soil　pH,　the　soil　was　neutral　soil　which　was　suitable　for　vegetation　growth.　Meanwhile,　soil　organic　matter　of　the　treatment　areas　was　far　lower　than　that　of　the　normal　grazing　area,　although　the　organic　matter　exhibited　an　upward　trend.　3)　Soil　moisture　exhibited　a　V-shaped　trend　that　the　content　decreased　in　the　early　stage　of　management　and　the　content　of　managed　area　in　2009　was　lowest　for　only　6.8%.　But　in　the　late　stage　of　management,　the　content　increased　from　6.8%　to　12.1%　in　the　managed　area　in　1995,　in　which　the　grassland　had　been　restored　and　water　conservation　got　improvement.　4)　Correlation　analysis　indicated　that　soil　moisture　was　significantly　correlated　with　organic　matter　content,　soil　texture,　pH,　biomass,　and　soil　carbon　content,　although　the　relationship　between　soil　moisture　and　pH　was　negative.　5)　As　the　duration　of　treatment　increased,　the　soil　degradation　index　decreased,　and　the　soil　conditions　improved　greatly.　©　2017,　Ecological　Society　of　China.　All　rights　reserved.