Wheat is a highly valued crop in the national diet of Ethiopians, and widely produced in the country. However, its productivity is low due to depleting soil fertility, unavailability of modern crop management inputs and limited knowledge on time and rate of N fertilizer applications in the country. The experiment was conducted during the main rainy season of 2017 in Bure district Debremarkos University, Bure Campus farm site to study the effect of time and rates of N fertilizer application on growth and yield components of bread wheat (Triticum aestivum L.). Factorial combinations of four N rates (52.5, 64, 75.5 and 87 kg ha-1) and four time of application (T1 (½ at planting + ½ at mid tillering); T2 (½ at mid tillering + ½ at anthesis); T3 (1/3 at planting + 1/3 at mid tillering + 1/3 at anthesis); T4 (¼ at planting + ½ at mid tillering + ¼ at anthesis) were laid down in RCBD design with three replications. Data of phenological, vegetative growth and yield related parameters were collected following standard methods and procedures. All data were analyzed by SAS 9.2 version and mean separation for significant treatments were done by LSD. The result of the study showed that days to 50% heading, 90% physiological maturity, plant height, number of total tillers, spike length, thousand kernels weight and grain yield were highly significantly affected by the main effect of N fertilizer rates. On the other hand, the main effect of N rate was very highly significantly affected number of effective tillers, number of kernels per spike and biomass yield. Whereas, the main effect of time of N fertilizer application were significantly affected days to 50% heading, plant height, number of effective tillers and grain yield. In addition, timing of N application affected days to 90% physiological maturity, number of kernels per spike, thousand kernels weight, straw yield and harvest index highly significantly and biomass yield was affected very highly significantly by timing of N application. The interaction effect of N rates and time of application was significantly affected biomass yield and highly significantly affected plant height, number of kernels per spike. The highest grain yield (2,897.02 kg ha-1) of bread wheat was recorded at the N rate of 87 kg ha-1, while the lowest grain yield (2,656.19 kg ha-1) was recorded at 52.5 kg ha-1. The highest grain yield (2826.19 kg ha-1) of bread wheat was recorded at the time of ¼ Planting, ½ Mid-tillering and ¼ Anthesis, while the lowest grain yield (2661.20 kg ha-1) was recorded at the time of ½Planting and ½ Mid-tillering. Treatment combination of 87 kg ha-1N rate at the time of ¼ Planting, ½ Mid-tillering and ¼ Anthesis gave the highest net benefit (27,678.99Birr ha-1) with acceptable marginal rate of return. Therefore, it is economically feasible and can be recommended tentatively for Burie district. However, to come up with strong recommendation the experiment has to be repeated over season and across locations. Key Words: Fertilizer, Grain yield, Nitrogen, Wheat production, Yield related trait