Estimates are that land area occupied by grass pasture far exceeds that of other crops; at least half are at some stage of degradation. The use of elite plant-growth-promoting microorganisms (PGPM) as inoculants represents an important strategy to achieve qualitative and quantitative improvements in forage biomass, increasing the productivity and sustainability of livestock production. Several studies have reported the benefits of PGPM in grass pastures, with an emphasis on bacteria of the genera Azospirillum, Pseudomonas, Bacillus, rhizobia, and on arbuscular mycorrhiza fungi (AMF). The main grasses studied are Urocholoa (syn. Brachiaria), Megathyrsus (syn. Panicum), Paspalum, Cynodon, and Agropyron. Several microbial processes associated with improvements in root and shoot growth, nutrient content in biomass, and other benefits have been described. Promotion of plant growth has been associated with the synthesis of phytohormones and enzymes regulating several steps of plant development, nutrient mineralization by release of microbial molecules, biological nitrogen fixation, nutrient uptake facilitation by means of molecules such as exopolysaccharides, amongst others. Outstanding benefits of increased root growth, resulting in higher uptake of water and nutrients, either by phytohormones released by bacteria or by expanding root surface by AMF, have been reported. Biocontrol is another important property of PGPM, by a variety of mechanisms, including the synthesis of antimicrobial molecules, lytic enzymes, siderophores, and the release of specific inhibitory compounds such as hydrogen cyanide. Although improvements in forage management can enhance microbial performance, as shown for AMF, in general, inoculation with elite strains positively impacts growth parameters. Globally, the use of microbial inoculants has significantly increased in the past few years, but their application is still modest on grass pastures, which are generally degraded and would need special use of microbial inoculants for reclamation. Efforts towards increasing the use of PGPM in pastures can have deep positive environmental, economic, and social impacts worldwide.