Conservation tillage systems have not been widely adopted on clay soils. There are few empirical studies on the production potential and economic feasibility of conservation tillage systems for corn (Zea mays L.) and soybean (Glycine max L.) production on clay soils. On some soils in some regions, crop yields and possibly profitability can be increased and yield and net farm returns risks may be reduced through the use of conservation tillage systems. Stochastic dominance efficiency criteria are used to rank net return distributions for one conventional tillage (CT) and seven conservation tillage (including five reduced tillage and two no-till) systems conducted for corn and soybean cropping systems on two clay soils located in the 3050 to 3100 Corn Heat Unit areas of Ontario. Average yields are similar under conventional tillage and reduced tillage systems, although actual corn and soybean yield response to tillage treatment is affected by drought (year). Average net returns differ among tillage treatments due to two factors. First, actual corn and soybean yields vary among tillage systems for each soil type, depending on weather (i.e., year) effects. In addition, machinery costs that are crop-specific increase costs of production and therefore reduce net returns In general, CT systems dominate both reduced tillage and no-till systems for almost all risk intervals for both clay soils, except for slightly high-risk-preferring intervals.