An improved fertilizer knife assembly includes a shank member for attaching to the machine shank of a fertilizer implement, a point member and a fertilizer tube. The point member has side flange portions that extend past the back surface of the shank member to provide a channel for receiving and protecting the lower end of the fertilizer tube. The point member is removably mounted to the shank member and is configured as one of two distinctive types of point members: a strip-till point member and a low-draft point member. Accordingly, a fertilizer implement with improved fertilizer knife assemblies may be reconfigured for either strip-till or low-draft cultivation with only a few minutes of effort.
