The invention discloses slowly released phosphatic fertilizer which consists of the following raw materials in parts by weight: 40-60 parts of powdered rock phosphate, 10-15 parts of biological bacterium controlled release agent, 20-40 parts of calcium magnesium phosphatic fertilizer and 7-10 parts of bentonite. The production method comprises the following steps of: firstly mixing powdered rock phosphate, the biological bacterium controlled release agent and calcium magnesium phosphatic fertilizer according to the ratio in parts by weight, then stirring uniformly, stacking and fermenting, finally adding bentonite into the fermented fertilizer, granulating by a rotary drum, and then packaging finished products. The slowly released phosphatic fertilizer disclosed by the invention has the advantages that the using quantity of the fertilizer is reduced; soil is modified, and the release speed of nutrients is regulated and controlled, and the integration of quick acting and long acting is realized; the pesticide use quantity is reduced, and the capabilities of salt resistance, drought resistance, lodging resistance, continuous cropping resistance of crops are intensified; and conditions for large modern mechanical operation are created.