Food equivalent unit (FEU) is a vector used to measure the value of food based on its calorie and protein content and their digestibility. However, the optimal planting density and N application rate for maximizing the FEU yield (FEUY) of forage maize (Zea mays L.) is still poorly understood in the fast-growing animal husbandry regions of the Chinese Loess Plateau. Here, a 2-year consecutive field experiment was conducted to explore the impacts of planting density, N application rate, and their interactions on growth, dry matter yield (DMY), forage quality, and FEUY of a dominant forage maize cultivar. Planting density significantly affected the stem diameter, LAI, DMY, and dry matter allocation (DMA) of the leaf. Initially, increasing the N rate increased the stem diameter, LAI, FEUY, and DMY of forage maize and then decreased. The stem diameter, LAI, FEUY and above-ground DMY peaked under 180 kg∙ha−1 N in both years. Moreover, N application significantly increased the crude protein content of the whole plant and decreased the acid detergent fiber content. The surface fittings of the 2-year study indicated that 110,000 plants∙ha−1 (plant density) and 171.2 kg∙ha−1 (N rate) obtained the greatest DMY (19.0 t∙ha−1). The grade index (a comprehensive evaluation index for forage quality) peaked at 15.4 MJ∙d−1 under 94,000 plants ha−1 and 270 kg∙ha−1. The 110,000 plants∙ha−1 plant density and 181.5 kg∙ha−1 N rate jointly maximized the FEUY (11,125.4 FEU∙ha−1), maintaining 99.9 % of the maximum DMY and 97.5 % of the maximum grade index. Thus, 110,000 plants∙ha−1 plant density and 181.5 kg∙ha−1 N rate are recommended for high-productivity forage maize production, without notably compromising dry matter yield and feed quality. This research is conducive to advancing the coordinated development of forage crop cultivation and herbivorous livestock farming in semi-arid rainfed areas. •The effect of N rates on grade index of forage maize is greater than that of planting density.•Density 110,000 plants∙ha−1 and N rate 181.5 kg∙ha−1 maximized food equivalent unit yield.•The optimal maintained 99.9 % of the yield and 97.5 % maximum grading index.