A total of 35 phosphate solubilizing bacterial strains were isolated from waste mushroom bed of Agar-icus bisporus in Buyeo-Gun, Chungnam and screened for the production of indole acetic acid (IAA). The best IAAproducing strain was identified as Pantoea rodasii using 16S rRNA analysis. In addition to the IAA production, thisstrain could act as an efficient phosphate solubilizer (1100µg ml-1 after 5days of incubation) also. The selected strainwas cultured under different conditions in order to assess the optimum conditions for maximum IAA production. Thenutrient broth (NB) medium was recorded as the best medium, where the maximum IAA production (229µg ml-1)was recorded at the start of stationary phase (12hours after inoculation) of the bacteria growth. The performanceof the strain was found to be maximum at the temperature of 30℃ followed by 25℃. IAA production was foundto be increased with increasing tryptophan concentration (from 0.1 to 0.6%), however beyond this limit, a slight reduc-tion in IAA production was observed. The strains’ ability to produce IAA was further confirmed by extraction ofcrude IAA and subsequent TLC analysis. A specific spot from the extracted IAA preparation was found correspondingwith the standard spot of IAA with same Rf value. The results of HPLC analysis conducted in identifying and quan-tifying the IAA production more precisely, are in agreement with the results of the assessment done with colorimetricmethod. As revealed by the results of the pot experiment, the isolated strain could significantly enhance the growth(as measured by shoot and root growth) of mung bean plants compared to that of non-inoculated plants. Thereforeit can be concluded that the present strain, Pantoea rodasii has great potential to be used as bio-inoculants.