Soil salinization has become a worldwide problem. The content of insoluble phosphate in salinized soil is relatively high. The use of soluble phosphorus microorganisms to decompose insoluble phosphorus for plant absorption and utilization has become a hot issue in recent years, hoping to reduce the dependence on chemical fertilizers in agricultural life. Penicillium funicuiosum P1 has a strong ability to dissolve phosphate, and the amount of dissolving phosphate can reach 1 022.77 mg/L. In this paper, phosphate solubilizating ability, pH and biomass changes of P1 under salt stress and its effect on the growth of Chinese wildrye were studied. The results show that strain P1 can survive at 15% NaCl concentration, and it has high phosphate solubilizating ability in high salt concentration liquid culture conditions. When salt concentration is 6%, P1 phosphate solubilizating ability can reach 706.52 mg/L, which is twice of Aspergillus CT1 at the same salt concentration. In addition, strain P1 is beneficial to the growth of Chinese wildrye roots under salt stress.