This research was conducted to evaluate the effect of simultaneous nitrogen (N) and phosphorous (P) fertilizer application on grain yield and also genetic diversity for absorption efficiency of these two elements and other micro nutrient elements and phytic acid in grain of 18 advanced bread wheat genotypes and two cultivars, i.e. Sardari and Azar-2, as checks, in two successive cropping season (2005-2007) at two fertilizer and non fertilizer application at rainfed conditions in Sararood research station, west Iran, utilizing randomized complete block design with three replication. Also, heritability, genotypic (GCV) and phenotypic (PCV) coefficient of variations and genotypic (GV) and phenotypic (PV) variance were measured for the recorded traits. Based on grain yield at the both condition, grain yield efficiency index (GYEI) were calculated for each genotypes. N, P fertilizer application significantly increased 21 and 14 percentage grain yield in the two cropping seasons. Moreover, NP application enhanced Fe, Zn, and B concentration in seed but reduced N, P, K and ratio of phytic acid to Zn (PA/Zn) which lowers PA/Zn in wheat grain is related to more bio-availability of Fe and Zn in bread. In compare to Azar-2 and Sardari, 9 and 14 genotypes for PA/Zn and 2 and 3 Genotypes for GYEI were superior, respectively. Analysis of variance revealed significant genetic variation for most of the traits.For majority of traits, PCV were more that GCV. The highest PCV and PCG were observed for P content in grain. Grain yield and phytic acid had the highest (h2=60.69%) and the lowest (h2=7.63%) heritability, respectively. Consequently, N, P application had influence on nutritional element concentration in grain and there was a genetic variation among the testing genotypes for nutritional elements absorption efficiency.