A field experiment was carried out to reveal the effects of conventional fertilization(CF), formulated fertilization(FF) and postponed application of phosphorus fertilizer(DAP) on phosphorus accumulation and its utilization efficiency, as well as grain yield and economic benefit in rice. The results showed that the phosphorus absorption and accumulation in rice of phosphorus in FF and DAP were higher than those in CF. And the contribution rate, absorption efficiency, agronomic use efficiency and partial fertilizer productivity of phosphorus in FF and DAP increased significantly (P<0.05) compared with CF. Moreover, under the same phosphorus level, the phosphorus accumulation amount and net absorption amount of rice during the later growth period in T3 (basal P:topdressed P = 7:3) were 6.86% and 20.07% higher than those in T2 (P used as basal fertilizer). Meanwhile, the contribution rate, absorption efficiency, agronomic use efficiency, partial fertilizer productivity and physiological efficiency of phosphorus in T3 increased by 36.56%, 23.10%, 46.16%, 7.09% and 18.25%, respectively. Compared with T2, the grain yield and output-input ratio also increased by 7.09% and 7.04%. The results indicated that FF, especially DAP increased phosphorus absorption and accumulation in rice during the growth duration, as well as the P utilization efficiency, grain yield and output-input ratio, which had a positive effect on increasing production and efficiency.