The invention discloses eupenicillium cinnamopurpureum strain and an application thereof, and belongs to the technical field of P-solubilizing microbial fertilizers. The bacterial strain is eupenicillium cinnamopurpureum WHP-1, and the preservation number is CGMCC No. 8128. The invention also discloses a microbial inoculum containing the bacterial strain and a preparation method thereof. Experiments show that the eupenicillium cinnamopurpureum strain WHP-1 has the characteristics of fast growth speed, large sporulation quantity, strong stress resistance, strong P-solubilizing performance and the like, and can be fast colonized in quantity at the plant roots. The fermentation broth or the microbial inoculum of the bacterial strain contains a large amount of P-solubilizing bacterium, and has certain active effect on soil improvement; and due to the P-solubilizing function, the fermentation broth or the microbial inoculums has active influence on improvement of soil structure, enhancement of fertilizer absorptivity of crops, and the like.