Plants acquire phosphorus from soil solution as phosphate anion. It is the least mobile element in plant and soil contrary to other macronutrients. It precipitates in soil as orthophosphate or is adsorbed by Fe and Al oxides through legend exchange. Phosphorus solubilizing bacteria play role in phosphorus nutrition by enhancing its availability to plants through release from inorganic and organic soil P pools by solubilization and mineralization. Principal mechanism in soil for mineral phosphate solubilization is lowering of soil pH by microbial production of organic acids and mineralization of organic P by acid phosphatases. Use of phosphorus solubilizing bacteria as inoculants increases P uptake. These bacteria also increase prospects of using phosphatic rocks in crop production. Greater efficiency of P solubilizing bacteria has been shown through co-inoculation with other beneficial bacteria and mycorrhiza. This article incorporates the recent developments on microbial P solubilization into classical knowledge on the subject.