<p>Improper or inadequate mineral nutrition is a major issue in cotton (<i>Gossypium hirsutum</i> L.) production globally. Therefore, the development of balanced fertilization strategies is essential for sustainable cotton production. This study assessed the impacts of soil-applied potassium (K) doses (K₀ = 0, K₇₀ = 70, K₁₄₀ = 140, and K₂₁₀ = 210&#xa0;kg ha^− 1) combined with water (F₀ = control) foliar-applied humic acid (F₁ = 150&#xa0;g humic acid in 100&#xa0;L water), micronutrients (F₂ = (250&#xa0;g of micronutrient mixture containing 7% iron (Fe), 7% zinc (Zn), 1% boron (B), 5% manganese ( Mn), 0.05% molybdenum (Mo) and 1% copper (Cu) in 100&#xa0;L water), and macro + micronutrients (F₃ = 500&#xa0;g urea + 500&#xa0;g potassium sulfate + 100&#xa0;g zinc sulfate + 100&#xa0;g F₂ in 100&#xa0;L water) on yield-related and fiber quality traits, and ginning outturn of cotton during 2020 and 20201. Frequently cultivated genotype ‘Fiona’ was used in the study. The K was applied at the time of sowing, whereas foliar treatments were applied at square initiation, flowering initiation, and peak flowering. The individual and interactive effects of soil-applied K and foliar applied nutrients significantly altered yield and related traits, whereas fiber quality traits remained unaffected during both years. Overall K₂₁₀ × F₃ interaction resulted in the highest values of yield-related traits and seed cotton yield. The highest seed cotton yield (6428 and 6185&#xa0;kg ha^− 1 during 2020 and 2021, respectively) was recorded for K₂₁₀ × F₃ interaction. Similarly, K₂₁₀ × F₃ interaction resulted in the highest net returns (709 and 496 US$ ha^− 1 during 2020 and 2021, respectively) and benefit: cost ratio (1.90 and 1.50 during 2020 and 2021, respectively). Overall, the highest seed cotton yield and economic returns were recorded for K₂₁₀ × F₃ interaction. Therefore, it is recommended to apply 210&#xa0;kg ha^− 1 K followed by foliar application of macro + micronutrients for higher yield and economic returns.</p>