To decipher the genetic interaction of the fiber yield with quality-related traits in high-quality cotton varieties and screen elite lines with higher fiber quality, several traits have been measured in F2 and F2:3 populations, derived from variety CCRI127 with elite fiber quality crossing with sGK line Zhong 156 with high yield. Statistical analysis showed a normal distribution in traits including boll weight, lint percentage, upper half mean fiber length, fiber strength, micronaire, elongation and fiber uniformity. The transgression separation in populations if compared to both parents suggested abundant genetic variations. The ratios over the super high parent were 61.38% and 69.5% for average length of upper part of fiber in F2 and F2:3, 42.12% and 61.00% for fiber strength, and 41.75% and 28.43% for boll weight. A significant positive correlation between the average length of the upper half and fiber strength, and a significant negative correlation between lint percentage and fiber quality traits, including the average length of the upper half and fiber strength were observed, implying antagonistic on fiber yield and fiber quality. Ten individuals with fiber strength higher than 38.0 cN?tex-1 in F2 and F2:3 generations were selected, showing more than 31.0 mm on the average length of the upper half. Collectively, this study provided elite materials for the quantitative trait locus (QTL) mapping for fiber yield and fiber quality, and molecular breeding by stacking multiple elite genes.