Phosphate solubilizing microorganisms (PSM) such as bacteria and fungi play an important role in solubilizing insoluble phosphate in soil and making it available to plants. PSM secrete organic acids and enzymes that lower soil pH and chelate cations, converting insoluble phosphate into soluble forms that plants can absorb. While phosphorus is essential for plant growth, much of the phosphorus in soil is unavailable to plants; PSM help address phosphorus deficiency by increasing the soluble phosphorus content of soil. Further research is needed to develop methods for commercializing PSM as biofertilizers to provide a more sustainable alternative to inorganic phosphate fertilizers.