High phosphate slag fertilizer (SHP) contains phosphorous, calcium, magnesium and silicon, expected to be effective in supplying plant nutrients and improving soil acidity. We clarified the characteristics and effects of the SHP as a fertilizer. Nippon Steel Corporation prepared the SHP prototypes by concentrating phosphorus through high-temperature processing. Five types (SHP12, SHP15, SHP18-1, SHP18-2, SHP27-2) were examined through dissolution test, pot cultivation experiment, and evaluation of improving effect on soil acidity. The SHP12 was insoluble in water but soluble in various acids and most SHP contained more than 95% of acid-soluble phosphate and silicate. Above-ground growth and phosphate uptake of spinach was higher in the SHP12 plot than in no-phosphate, ammonium phosphate and fused phosphate plots, indicating that phosphorus in the SHP12 could be absorbed more easily than the common phosphate fertilizers. Above-ground growth and phosphate uptake of wheat was also high in the SHP12 and SHP15 plots, which was comparable to ammonium phosphate plot. However, the SHP27-2 had little effect as a phosphate fertilizer. The SHP12 and SHP15 could be expected to supply calcium and silicon as well as phosphorous. Although most SHP showed the same ability to improve soil acidity as calcium carbonate, it might be necessary to avoid excessive increase in soil pH depending on the soil condition and the ability of SHP. We can conclude that if the composition of the SHP is optimized, it can be used as a fertilizer with multiple effects depending on soil types, nutrient status, and crop types.