Bamboo shoot processing wastewater (BBPW) is rich in organic matter and organic acids and can be used as a nutrient source for microbial growth and biofertilization. In this study, Pseudomonas K22-D and Terribacillus goriness CS3 were isolated from bamboo forest soil with plant growth-promoting properties. Biofertilizers were prepared by inoculating bacteria into BBPW, and the effects of their application in a bamboo forest were evaluated. The chemical oxygen demand, TOC, TN, and NH4-N contents decreased after inoculation, indicating that the bacteria were able to degrade macromolecules in BBPW. The BBPW biofertilizer produced by mixed bacteria (CS3 + K22-D) significantly improved the soil organic carbon and mineral-associated organic carbon content and reduced the pH, alkali-hydrolysable nitrogen, available phosphorus, and available potassium content of the soils in the bamboo forest, which might be attributed to the high C:N ratio and microbial synergism in the biofertilizer and the fast growth period of bamboo shoots. Notably, the CS3 biofertilizer significantly increased soil-available phosphorus (90.25%), and the K22-D biofertilizer significantly decreased soil-available phosphorus (70.33%) compared with CK, suggesting that the presence of inorganic phosphorus-solubilizing bacteria can promote soil P. We believe that the return of inoculated bamboo shoot processing wastewater to bamboo plantations can be an eco-friendly, sustainable practice for bamboo forest management.