The present study investigated macro‐ and micronutrient status in the soils under the native forest (NF), cropland (CL) and rangeland over 27 years in Colonia Okinawa, Santa Cruz, Bolivia, in order to assess the effect of land use on soil fertility in the region. The C, N and P pools in the soil of CL were less by 60, 57 and 27% as compared to NF, respectively. The rangeland with Panicum maximum (RG) showed almost similar values of C, N and P pools to CL, while the values in the rangeland with Paspalum notatum (RB) were relatively closer to NF. Mehlich‐3 extractable P, Ca and Mg considerably declined in CL, RG and RB, but an inverse trend was observed in Mehlich‐3 extractable K probably due to the stimulation of weathering of illite in the soil. Mehlich‐3 extractable Mn, Fe and Cu were tended to increase in RG and RB, which suggested possible accumulation of these metals because of the manure deposited by grazing cattle on the rangelands. Besides C, N and P pools, the values of Mehlich‐3 extractable K, Mn, Fe and Zn were less in RG than RB because of greater exploitation of these nutrients in RG than RB. There was a significant correlation between C, N, P, Ca, Mg and Zn suggesting that the dynamics of these components could be associated with the organic matter in the soil. The findings of this study clarified the soil chemical degradation in the cropland and rangeland. However, the magnitude of the land chemical deterioration under the rangeland was highly variable depending on the grass species.