A field experiment was conducted during kharif 2016 to study the effect of coinoculation of Bradyrhizobium japonicum and Pseudomonas fluorescens in conjunction with graded levels of chemical fertilizers on growth, yield and nutrient uptake in soybean [Glycine max (L.) Merrill]. Results of the experiment showed that the co-inoculation of soybean seeds with B. japonicum and P. fluorescens in conjunction with either 75% or 100% of recommended dose of nitrogenous and phosphatic fertilizers significantly increased seed germination (81.52 and 81.51%), shoot length (54.33 and 54.30 cm), number of branches (6.45 and 6.40/plant), dry plant weight (16.0 and 15.96 g/plant), number of nodules (44.0 and 43.5/plant), dry weight of nodules (1.60 and 1.59 g), dry matter yield (30.90 and 30.85 q/ha), number of pods (136 and 135/plant), 100-grain weight (15.46 and 15.45 g), grain yield (30.60 and 30.50 q/ha), uptake of nitrogen (240.45 and 240.43 kg/ha) and phosphorus (20.46 and 20.45 kg/ha) in soybean. Values recorded with these treatments did not differ statistically from those recorded with the treatment of recommended dose of chemical fertilizers, suggesting 25% saving in chemical fertilizers by co-inoculation with B. japonicum and P. fluorescens.