Water regime in the 0~150 cm soil profile of farmland on slopes of red soil low hills changes along with cycle of precipitation of the year, type of landuse and position on the slope, forming into three stages, i.e. surplus period, depletion period and recovery period. The change in soil water potential coincides with that in soil water storage, showing the curve of a valley. Within the soil profile, soil water potential increases with depth, but decreases in variation amplitude. It remains almost unchanged throughout the year in the soil layer below 100 cm. Difference in landuse leads to sharp temporal and spatial difference in soil water potential. In peanut field, it varies greatly from year to year, but not much with position on the slope, while in chestnut garden it goes just the other way round. Of the four phases of soil water potential, i.e. saturation, wetness, deficiency and dryness, saturation is the highest in occurring frequency and they are often in the order of saturation > wetness > deficiency > dryness. On the whole, decreasing orders, like chestnut garden > peanut field, bottom soil > subsoil > surface soil, down-slope > upper slope and mid-slope, are observed in occurring frequency of the phases of saturation and wetness. The phase of dryness appears mainly in the upper slope, surface layer, summer and fall, but still shows a decreasing order of chestnut garden > peanut field, especially in subsoil, (40~85 cm deep) in the profile in the mid- and lower-slopes. Therefore, site-specific measures from the engineering, biological and agronomic aspects should be taken to manage soil moisture regime of the farmland on slopes of red soil hills.