Many microorganisms in soil are able to transform insoluble form of phosphorus to an accessible soluble one, contributing to plant nutrition as plant growth-promoting microorganisms. The objective of this work was to isolate, screen and evaluate the phosphate-solubilizing activity of microorganisms in soybean rhizosphere soil, and select potential microbial inoculants. These microorganisms were selected based on the phosphate-solubilizing efficiency in a modified Pikovskaya’s liquid medium culture. The isolates were identified based on the morphological characteristic and nucleotide sequence data from the 16S ribosomal DNA (rDNA) for bacteria. Strain BAâ ¢, identified as Bacillus megaterium, is the most effective one for solubilization of phosphate in medium. Taken together, these results demonstrate that strain BAâ ¢ has the ability to convert nonavailable forms of phosphorus into plant-available forms, therefore, it has a great potential to develop as a bio-fertilizer to enhance soil fertility and promote plant growth.