Flaxseed oil cake was subjected to fermentation with Rhizopus oligosporus (DSM 1964 and ATCC 64063), and the phytate (InsP6) content, myo-inositol phosphate profile and in vitro bioavailability of essential minerals were studied. Flaxseed oil cake had a phytate mass fraction of 13.9 mg/g. A 96-hour fermentation of flaxseed oil cake by R. oligosporus DSM 1964 and R. oligosporus ATCC 64063 decreased the InsP6 content by 48 and 33%, respectively. The strains had different phytate-degrading activities: fermentation of flaxseed oil cake with R. oligosporus DSM 1964 was more advantageous, yielding InsP3-5 as a predominating myo-inositol compound, while fermentation with R. oligosporus ATCC 64603 produced predominantly InsP5-6. Solid-state fermentation of flaxseed oil cake enhanced in vitro bioavailability of calcium by 14, magnesium by 3.3 and phosphorus by 2-4%.