The invention relates to a Sphingomonas sp. T-3 and a method for producing biological polysaccharide and poly-beta-hydroxy-butanoic acid by co-fermentation. The collection number of the Sphingomonas sp. strain T-3 is CGMCC No.10150. The method comprises the following steps: carrying out activating culture on the strain T-3, inoculating into a seed culture medium, inoculating a seed solution into the fermentation culture medium, and culturing; and after the fermentation finishes, diluting with distilled water, heating, carrying out membrane separation to obtain a supernate and a thallus precipitate; regulating the pH value of the supernate to 3.0 or so with hydrochloric acid, regulating the pH value of the obtained precipitate to neutrality with NaOH, and drying to obtain the biological polysaccharide; and drying the thallus precipitate, extracting with chloroform, and drying the supernate to obtain the poly-beta-hydroxy-butanoic acid. In the strain T-3 fermentation process, abundant poly-beta-hydroxy-butanoic acid is accumulated in the cells, and abundant biological polysaccharide is secreted into the culture medium; and the two obtained products can be widely used in the fields of industry, food, medical treatment and the like.