Penicillium oxalicum strain CBPS-3F-Tsa, an efficient phosphate solubilizing fungus, was evaluated for its production of organic acid in vitro and effect of inoculation on the growth promotion of Maize under greenhouse conditions. The fungus solubilized 129.1, 118.8, and 54.1 mg P/1 of tricalcium phosphate [$Ca_{3}(PO_{4})_{2}$], aluminum phosphate ($A1PO_{4}$),and ferric phosphate ($FePO_{4}$), respectively, after 72 h of incubation. Malic acid, gluconic acid, and oxalic acid were detected in the flasks supplemented with various phosphate sources [240, 146, 145 mM/1 $A1PO_{4},;FePO_{4},;and;Ca_{3}(PO_{4})_{2}$, respectively] together with a large amount of malic acid followed by the other two. The effects of inoculation of P. oxalicum CBPS-3F-Tsa on maize plants were studied under pot culture conditions. P. oxalicum CBPS-3F-Tsa was inoculated to maize plants alone or together with inorganic phosphates in the form of fused phosphates (FP) and rock phosphates (RP). Inoculation of P. oxalicum CBPS-3F-Tsa increased the plant growth and N and P accumulation in plants, compared with control plants, and also had positive effects when applied with RP. The results of this study show that the fungus P. oxalicum strain CBPS-3F-Tsa could solubilize different insoluble phosphates by producing organic acids, particularly malic acid, and also improved the efficiency of RP applied to maize plants.