Insecticides are used widely to control a variety of pests and often residues of these insecticides are left in soil which may have impact on the phosphate solubilization potentials of rhizosphere fungi. Rhizosphere soils were collected from carefully uprooted cowpea seedlings with hand trowel on 50, 70 and 90th days of germination containing the lambda-cyhalothrin and dimethoate insecticides. Fungi associated with the above samples were identified by standard microbiological techniques. Screening for phosphate solubilization potential of the isolates was done by spot inoculation on Pikovskaya agar by measuring the clear zones around the colonies supplemented with tricalcium phosphates [Ca3(PO4)2]. The phosphatase produced by the fungal species was optimized using parameters such as incubation time, pH, temperature, carbon source and nitrogen source in submerged fermentation. The isolated rhizosphere fungi were identified as