The invention provides a Bacillus megaterium strain LXB4070 and application thereof. The preservation number of the Bacillus megaterium strain LXB4070 is CGMCC NO. 21867. The Bacillus megaterium strain LXB4070 has remarkable growth-promoting characteristics of phosphate solubilizing, potassium promoting, silicon solubilizing and the like, and basically does not have a biocontrol characteristic. A biocontrol growth-promoting microbial agent comprises the Bacillus megaterium strain LXB4070 and/or a fermentation product thereof, not only retains the original remarkable growth-promoting characteristics of phosphate solubilizing, potassium promoting, silicon solubilizing and the like, but also has efficient biocontrol characteristic, has efficient inhibiting ability on fusarium oxysporum, ginger stem basal rot pathogenic bacteria, botrytis cinerea, apple fusarium pathogenic bacteria and potato black scurf pathogenic bacteria, and has obvious growth-promoting effect on green Chinese onion, apples, grapes, strawberries, potatoes and the like and obvious gain effect on fruits.