The application of Si or K has proven to be beneficial for the growth of plants under saline-alkali stress. However, the synergistic effect of Si and K in improving the growth, ion distribution, and partitioning in Lolium perenne L. under saline-alkali stress remains unclear. In this study, the growth characteristics and ion-selective absorption of ryegrass (Lolium perenne L.) exposed to different levels of saline-alkali stress were evaluated. The growth parameters of ryegrass were significantly improved when Si was applied by itself or coupled with K under low saline-alkali stress. Under a high saline-alkali level, only simultaneous application of Si and K could significantly improve the growth of ryegrass. When Si and K were applied together, the K+/Na+ and Ca2+/Na+ ratios in root, stem, and leaf of ryegrass were maximally improved as compared to the individual treatments and control. The K+ and Ca2+ concentrations in the vacuole, cell wall, and organelle of leaf were increased dramatically. This improvement was due to the ability of applied ions to compete with Na+, allowing the plant to maintain osmotic potential and leaf water content. The concentration of Na+ was significantly reduced when Si and K were applied and mainly concentrated in the soluble fraction and cell wall. The Si concentration in ryegrass increased markedly by the combined application of Si and K, and most of it was accumulated in the cell wall and soluble fraction, which could help in chlorophyll synthesis, reduce membrane injury, and increase water absorption under saline-alkali stress. This study emphasized the advantage of Si and/or K on the growth of plants under different saline-alkaline levels and provided a guide for the production of Si-K fertilizer and its application in saline-alkali soil.