Phosphorus (P) limitation is common in subtropical and tropical regions. Although phosphate‐solubilizing bacteria (PSB) can transform soil P fractions and enhance soil P availability, the mechanism regarding the linkage between PSB abundance and soil P fractions transformation were still unknown. In this study, Burkholderia sp. ZP‐4, a PSB strain, was inoculated into subtropical bamboo forest soil at the inoculation rates of 0% (bacterial suspension: soil weight = v: w, the control), 2% (2%IR), 6% (6%IR) and 10% (10%IR). The changes in soil P fractions, bacterial community, phosphatase activities, P transforming functional genes and soil properties were also determined after the PSB inoculation. Compared with the control, soil inorganic P extracted by deionized water (H2O‐Pi) and extracted by sodium bicarbonate (NaHCO3‐Pi) in the 6%IR treatments were increased 45.35% and 16.05%, respectively. The lowest content of residual P (residual‐P) was in the 6%IR treatment among the four treatments. The 6%IR treatment contributed to stimulating and inducing soil acid phosphatase activity and P cycling genes (phoD and phoC) abundances, relative to the control. The PSB inoculation significantly decreased soil pH but increased soil available nitrogen P supplies among all treatments. Simultaneously, the PSB inoculation also significantly changed soil bacterial community. The transformation of P fractions in the 6%IR was more efficient than the other treatments, implying that 6% is the proper inoculation rate of functional Burkholderia for accelerating P cycling at subtropical bamboo forest soil. Our findings will provide a scientific guidance for the application of biofertilizer.