Phosphorus (P), an essential plant nutrient, is a nonrenewable resource whose availability depends exclusively on mined rock phosphates. Deficiency of P in soil results in reduction in food production since all plants require an adequate supply of P for its growth and development. Even though synthetic phosphatic fertilizer has played some major roles in enhancing crop production, its excessive use has also dark sides to it where it has been found to damage the environment, destruct soil fertility, and, via food chain, seriously affect the human health. Considering the nuisance of overuse of P, there is an urgent demand by the agriculture practitioners to find nonhazardous strategy that can overcome/reduce the use of agrochemicals in agricultural practices and, hence, may preserve the very integrity of soil ecosystems. In this context, actinobacteria, a group of Grampositive bacteria, ubiquitous in soils, are likely to play some important roles in supplying soluble P to plants by solubilizing/mineralizing complex P resources of soils. Additionally, the extracellular metabolites produced by actinomycetes may inhibit phytopathogens and, sometimes such metabolic compounds may also act as plant growth regulators. These qualities, among others, make actinobacteria an ideal candidate for developing as microbial inoculants for ultimate use in agriculture production system. The potential roles of actinomycetes as phosphate solubilizers in enhancing crop production are discussed.