Lead (Pb) pollution is getting more and more serious in phosphate mining wastelands recently. However, seldom studies focused on the bioremediation of Pb pollution in phosphate mining wastelands by phosphate-solubilizing bacterium (PSB). In this study, a PSB named LA with high Pb tolerance was isolated from a phosphate mining wasteland. Based on its cell morphology, physiology, and phylogenetic analysis, it was identified as Pseudomonas sp. Its capabilities to solubilize mid-low-grade phosphate rock (PR) and immobilize Pb were assessed in this study. It was found that LA could effectively solubilize PR on PKO culture medium and release soluble phosphate in the culture medium. PR solubilization and Pb immobilization were investigated at different initial Pb concentrations and pH levels. The results showed that soluble phosphate was highly effective in immobilizing Pb and that when the initial concentration of Pb 2+ was 100 mg/L, the immobilization rate of Pb was enhanced. Further, the mechanisms underlying solubilization of PR and biomineralization of Pb ions in LA were evaluated by Fourier transform infrared spectroscopy and X-ray diffraction. The results showed that some functional groups on the PR surface and LA were altered, and LA could form hydroxyapatite and pyrophosphate with Pb ions.