The revegetation of abandoned farmland significantly influences soil organic C (SOC) and total N (TN). However, the dynamics of both soil OC and N storage following the abandonment of farmland are not well understood. To learn more about soil C and N storages dynamics 30 years after the conversion of farmland to grassland, we measured SOC and TN content in paired grassland and farmland sites in the Zhifanggou watershed on the Loess Plateau, China. The grassland sites were established on farmland abandoned for 1, 7, 13, 20, and 30 years. Top soil OC and TN were higher in older grassland, especially in the 0-5 cm soil depths; deeper soil OC and TN was lower in younger grasslands (<20 yr), and higher in older grasslands (30 yr). Soil OC and N storage (0-100 cm) was significantly lower in the younger grasslands (<20 yr), had increased in the older grasslands (30 yr), and at 30 years SOC had increased to pre-abandonment levels. For a thirty year period following abandonment the soil C/N value remained at 10. Our results indicate that soil C and TN were significantly and positively correlated, indicating that studies on the storage of soil OC and TN needs to focus on deeper soil and not be restricted to the uppermost (0-30 cm) soil levels.