Among the major nutrients, phosphorus is by far the least mobile and available to plants in most soil conditions. A large portion of soluble inorganic phosphate applied to soil in the form of phosphate fertilizers is immobilized rapidly and becomes unavailable to plants. To improve the plant growth and yield and to minimize P loss from soils, the ability of a few soil microorganisms converting insoluble forms into soluble forms for phosphorus is an important trait in several plant growth-promoting microorganisms belonging to the genera Bacillus and Pseudomonas and the fungi belonging to the genera Penicillium and Aspergillus in managing soil phosphorus. The principal mechanism of solubilization of mineral phosphate by phosphate solubilizing bacteria (PSB) is the release of low molecular weight organic acids such as formic, acetic, propionic, lactic, glycolic, fumaric, and succinic acids and acidic phosphatases like phytase synthesized by soil microorganisms in soil. Hydroxyl and carboxyl groups from the organic acids can chelate the cations bound to phosphate, thereby converting it into soluble forms.