Phosphate-solubilizing microorganisms have been considered as a novel alternative approach to provide phosphate fertilizers that promote plant growth. In this study, three strains were isolated and identified as Penicillium oxalicum FJG21, Penicillium oxalicum FJQ5, and Bacillus subtilis BPM12, with a relatively high phosphate-solubilizing activity. Various phosphate sources were investigated, and Ca3(PO4)2 was identified as the effective phosphate source. Factors governing the phosphate-solubilizing activity of the strains included carbon and nitrogen sources, initial pH, and fermentation time. A high soluble phosphorus content was achieved with 529.0 μg·mL-1, 514.0 μg·mL-1, and 330.7 μg·mL-1 for Penicillium oxalicum FJG21, Penicillium oxalicum FJQ5, and Bacillus subtilis BPM12, respectively. An inverse correlation of the quantity of soluble phosphorus content and the pH value of the medium was observed. In addition, Bacillus subtilis BPM12 displayed a prominent capability of producing indole acetic acid. Penicillium oxalicum FJG21 and Penicillium oxalicum FJQ5 exhibited high cellulase activities. These phosphate-solubilizing microorganisms with good phosphate-solubilizing capability and growth-promoting ability are the promising strains for agricultural utilization.