The overuse of chemical nitrogen (N) and phosphorus (P) fertilizers in tomato cultivation is common for high fruit yields to meet the ever-increasing industrial needs, resulting in poor fruit quality, fertilizer waste, and environmental pollution. Nutrient-mobilizing microbes increase soil nutrient supply and decrease fertilizer use without yield sacrifices. Thus, the influence of a new white-rot fungus Ceriporia lacerata HG2011 was studied on soil N and P mobilization in lab and ketchup tomato performances in field. Compared with noninoculation, soil pH decreased, while ammonia (NH 4 + -N), available P, microbial biomass N and P, and activities of protease and phosphatase in the inoculated soil increased as the fungus grew on and in the sterile soil. Protease activity was positively correlated with NH 4 + -N and phosphatase activity was with water-soluble P and Olsen P in the sterile soil. Soil pH showed an inverse correlation with available P. In the field experiment, the treatments included a blank control, C. lacerata, chemical fertilizers, and chemical fertilizers plus C. lacerata. Fungal inoculation enhanced the available N and P and the activities of protease and phosphatase in both fertilized and unfertilized soils, leading to the increment of plant nutrient uptake. Fungal application increased the fruit yield by 18.18−20.16%, soluble solids by 3.17−6.30%, soluble sugar by 10.67−43.33%, sugar−acid ratio 20.19− 52.91%, and vitamin C by 8.83−34.90%. Therefore, our results first demonstrated the new functions of C. lacerata HG2011 in the mobilization of soil N and P and the improvement of plant nutrient uptake, yield, and quality, showing a potential use as biofertilizers in ketchup-processing tomato cultivation.