Common bean (Phaseolus vulgaris L.) is important pulse crop in Ethiopia. The low yield of common bean is party attributed to low phosphorus fertility of the soil. A field experiment was conducted at Hanaze village, Kindo Koysha district, Wolaita, Ethiopia, to determine grain yield and yield components and agronomic efficiency using factorial combinations of 4 P rates (0, 13.2, 26.4 and 39.6 kg haG 1 P) and 4 common bean varieties (Hawassa-Dume, Nasir, Omo-95 and Remeda) in randomized complete block design with 3 replications. With the increase in P rate from 0-39.6 kg haG 1 , seeds/pod increased from 3.27-3.77 whereas days to flowering and maturity reduced from 57-52 and 76-73, respectively. The respective increase in pods/plant and grain yield (kg haG 1 ) with the increase in P rate from 0-39.6 kg haG 1 was from 2.40-17.00 and 719-1542 for variety Hawassa-Dume, Nasir 2.60-9.47 and 583-1469, Omo-95 from 2.27-6.53 and 604-1062 and Remeda 2.20-9.47 and 312-1276. Agronomic efficiency declined from 92-21, 60-22, 42-12 and 32-24, for varieties Hawassa-Dume, Nasir, Omo-95 and Remeda, respectively, with the increase in P rate from 13.2-39.6 kg haG 1 . The present experiment suggests that the soil P content would be assessed before fertilizer recommendation and variety Hawassa-Dume would be used in future to develop P efficient common bean varieties for P limited soils.