In order to understand the characteristics of the distribution of sediment total phosphorus (TP) and phosphorus fractions in the mainstream sediments in the Three Gorges Reservoir (TGR) after impounding the water level to 175 m, 13 surface sediment samples were collected from the Wujiang to Maoping sections in October 2010. The physico-chemical properties, including organic matter content, particle grain size distribution, and major mineral analysis, as well as total phosphorus and its fractions in the sediment, were determined. Moreover, the relationships among phosphorus fractions, organic matter contents, and particle grain size were discussed, and the effect of the impoundment on sediment phosphorus accumulation and bioavailability was also evaluated. Results indicated that the sediment organic matter content of the TGR was between 7.79 g·kg-1 and 55.63 g·kg-1, and the main mineral components were chlorite, illite, and quartz. The sediments were dominated with clayey silt with a median diameter (d50) ranging from 3.84 μm to 23.65 μm. The measured total phosphorus content of the sediments were between 557.06 g·kg-1 and 837.92 g·kg-1, and the total phosphorus enrichment index of each sampling site is greater than 1, demonstrating a potential risk for phosphorus pollution. The calcium bound phosphorus (Ca-P) and the reductant soluble phosphorus (Oc-P) were the dominant sediment phosphorus fractions, while the exchangeable phosphorus (Ex-P), the iron bound phosphorus (Fe-P), and aluminum bound phosphorus (Al-P) content were relatively low. Bioavailable P only accounts for 2%-8% of the total phosphorus content. When referring to previous studies, the sediment particle size tended to be smaller and the content of comparatively easy-to-weather minerals slightly increased with the increase of the impoundment water level. However, the increase in the impoundment water level did not result in a significant increase tendency in sediment TP content. In the future, a reduction in sediment input and a decline in sediment particle size may facilitate the accumulation of phosphorus in the sediments in the broad valley section of the TGR. Moreover, large scale dry-wet alternation in the water level fluctuation zone and resuspension of floating mud near the dam both potentially impact the bioavailability of phosphorus in the sediments.