As the increase of global industrial activities, phosphate from industrial wastes such as sewage sludge has become one of the limiting factors for water eutrophication. Herein, lanthanum carbonate hydroxide (La(CO3)OH)/magnetite (Fe3O4) nanoparticles functionalized porous biochar (La/Fe-NBC) with high phosphate adsorption properties is synthesized through molten salt pyrolysis-coprecipitation-hydrothermal multi-step regulation, and further reveal the related processes and mechanisms. La(CO3)OH functions as active sites for phosphate adsorption, Fe3O4 imparts magnetic properties to the composite substance, also porous biochar (NBC) acts as the carrier to prevent the agglomeration of La(CO3)OH and Fe3O4 nanoparticles. The adsorption process of La/Fe-NBC for phosphate fits to the Pseudo-Second Order and Langmuir model, with the theoretical maximum adsorption capacity up to 99.46 mg P/g. And La/Fe-NBC possesses excellent magnetic field (14.50 emu/g), stability, and selectivity, which enables for efficient multiple recovery and reuse. Mechanistic studies have shown that ligand exchange (inner-sphere complexation) between phosphate and carbonate/hydroxyl groups of La(CO3)OH, and electrostatic attraction play the dominant roles during adsorption process, although susceptible to the solution pH. While co-precipitation is not influenced of pH conditions but with limited contribution to phosphate adsorption. This study may facilitate to optimize the synthesis design of phosphate multi-functional composites for low-carbon and sustainable treatment of industrial phosphate-containing wastes.