An experiment was conducted at Mymensingh during aman season 2011 to study the response of Binadhan-7 to reduced rates of nitrogen and phosphorus. The experiment was laid out in a randomized complete block design (RCBD) with three replications. There were eight treatments as T1 (control), T2 (RFD), T3 (RFD -25% N), T4 (RFD – 50% N), T5 (RFD – 25% P), T6 (RFD – 50% P), T7 (RFD – 25% NP) and T8 (RFD – 50% NP). 80 kg N ha-1, 25 kg P ha-1, 35 kg K ha-1, 10 kg S ha-1 and 4 kg Zn ha-1 were applied as recommended fertilizer dose (RFD). Nitrogen, phosphorus, potassium, sulphur and zinc were supplied through urea, TSP, MOP, gypsum and zinc sulphate, respectively. The full dose of TSP, MOP, gypsum and zinc sulphate was applied as basal dose during final land preparation while urea was applied in three equal splits. The grain and straw yield of Binadhan-7 were significantly affected due to different treatments. The highest grain yield of 5.09 t ha-1 and straw yield of 7.01 t ha-1 were recorded in the treatment T2. Grain yield was positively correlated with plant height, tillers hill-1, panicle length, filled grains panicle-1 and 1000-grain weight whereas negatively correlated with unfilled grain panicle-1. The N and P content and uptake by rice plant did not decrease considerably due to the reduced rates of N and P compared to RFD.