In a survey conducted during the period of March–May 2019 in nurseries, warehouses, and shops at three governorates (Alexandria, El-Behera, and Giza governorates, Egypt), symptoms of root rot, basal stem rot, and wilt disease complex were observed in the lucky bamboo (Dracaena sanderiana hort. ex. Mast.). The highest disease infection percentage was found in lucky bamboo collected from Alexandria City (47.67%), while the highest disease severity was in lucky bamboo collected from El-Behera Governorate (35.19%). Rhizoctonia solani, Fusarium oxysporum, F. solani, Aspergillus niger, and Alternaria alternate were isolated and identified in the infected lucky bamboo samples. R. solani isolates were the most dominant among the recovered fungal species with a percentage of 80.89% of the total isolates (246). Pathogenicity tests showed that R. solani was the most pathogen with 100% disease infection and 76.67% disease severity. Molecular identification characterized R. solani isolate as R. solani AUMC 15120, MZ723906. Meanwhile, four biological control agents (bioagents) were isolated from the healthy lucky bamboo samples and identified based on cultural, morphological, microscopic characteristics, and the molecular phylogenetic analysis as Clonostachys rosea AUMC 15121, OL461708; Bacillus circulans TAG1, MW441316; B. siamensis TAP1, MW441318 and Ochrobactrum anthropi TAM1, MW441317. The four bioagents showed potential inhibition of R. solani in vitro as well as in vivo on lucky bamboo plants in vase treatments compared to the untreated inoculated control as well as certain fungicides and biocides used (Moncut, Rizolex-T, Topsin-M, Bio-Zeid, and Bio-Arc). The bioagent O. anthropi showed the highest inhibition growth (85.11%) of the in vitro R. solani colony, which was not significantly different from the biocide Bio-Arc (83.78%). However, C. rosea, B. siamensis and B. circulans showed inhibition values of 65.33, 64.44, and 60.44%, respectively. On the other hand, the biocide Bio-Zeid showed less inhibitory effect (43.11%), while the lowest growth inhibition was recorded by Rizolex-T (34.22%) and Topsin-M (28.67%). Furthermore, the in vivo experiment supported the in vitro results for the most effective treatments, where all the treatments significantly decreased the percentage of infection and disease severity compared to the inoculated untreated control. Additionally, the bioagent O. anthropi showed the highest effect, i.e., the lowest disease incidence and disease severity being 13.33% and 10%, compared to 100% and 75%, respectively, in the untreated inoculated control. This was not significantly different from the fungicide Moncut (13.33% and 21%) and from the bioagent C. rosea (20% and 15%) treatments for both parameters, respectively. In conclusion, the bioagents O. anthropi MW441317 at 1 × 108 CFU/ml as well as C. rosea AUMC15121 at 1 × 107/ml proved to be efficient to control R. solani causing root rot, and basal stem rot on lucky bamboo, compared to fungicide Moncut and can be used for disease management without the negative impact of the chemical control. Furthermore, this is the first report of the isolation and identification of Rhizoctonia solani, a pathogenic fungus, and four biocontrol agents (Bacillus circulans, B. siamensis, Ochrobactrum anthropi and Clonostachys rosea) associated with the healthy lucky bamboo plants.