The main objective of our study was to evaluate the effectiveness of Trichoderma viride BHU-2953 as a single inoculant during seed-priming to enhance phosphorus (P) uptake in soybean. A pot experiment was conducted, taking six treatments, in a completely randomized block design to assess the P uptake, root length, apparent phosphorus recovery (APR), rhizospheric phosphatase activity, pH, soil-P status, dehydrogenase activity, and fungal colony-forming unit (CFU g−1) in three different soybean growth stages through seed-priming with T. viride along with graded fertilizer P-doses. Significantly (P < 0.05) higher soil phosphatase activity, dehydrogenase activity, CFU of T. viride, and P-content in soybean vegetative parts were observed in bio-primed treatments as compared to control and RDF (full recommended dose of P-fertilizer without seed-priming), while seed-P (%), APR (%), and root lengths of RDF were found significantly (P < 0.05) lower than bio-primed soybeans with 90% RDF but were at par with 80% RDF. Higher positive correlations between CFU and acid phosphatase (R2 = 0.89, 0.9, and 0.89; P < 0.05) and between CFU and alkaline phosphatase activities (R2 = 0.98, 0.96, and 0.97; P < 0.05) at 30, 50, and 75 DAS indicate that T. viride mediated higher soil phosphatase activities. Higher P-recoveries of bio-primed soybeans, received 90% and 80% RDF, were achieved mainly due to soil applied-P solubilization through enhanced acid phosphatase activities along with better soil exploration by plant roots. Thus, seed-priming with T. viride BHU-2953 can reduce up to 20% of the recommended P-dose in soybeans.