Purpose: This paper presents the effects of soil drought stress during the growing season and pre-harvest period on tree growth and fruit quality of "Yumi" peach, an early season cultivar. Methods: Soil drought stresses were treated with four levels of -30, -50, -60, and -70 kPa during long term (LT) and short term (ST). For LT treatments, soil water was controlled for nine weeks from May 1 to July 5, which was assumed as the full growing season. For ST treatments, soil water was controlled for four weeks from June 10 to July 5, which was assumed as the pre-harvest season. Tree growth and leaf photosynthesis were measured, and fruit characteristics such as fruit weight and diameter, soluble solid and tannin contents, and harvest date were investigated. Results: Soil water deficit treatments caused a significant reduction in tree growth, leaf photosynthesis, and fruit enlargement. LT water stress over -60 kPa during the full growing season caused significant reduction in tree growth, including shoot length, trunk girth, leaf photosynthesis, and fruit enlargement. ST water stress over -60 kPa during the pre-harvest period also induced significant reduction in leaf photosynthesis and fruit enlargement, while tree growth was not reduced. In terms of fruit quality, water stress over -50 kPa significantly reduced fruit weight, increased soluble solid and tannin contents, and delayed harvest time in both LT and ST treatments. Conclusions: As a result, it is assumed that LT water stress over -60 kPa can reduce both tree growth and fruit enlargement, whereas ST water stress over -50 kPa can reduce fruit enlargement without reducing tree growth. From an agricultural perspective, moderate water deficit like -50 kPa treatments could have positive effects, such increased fruit soluble solid contents along with minimal reduction in fruit size.