Increased anthropogenic nitrogen (N) deposition is driving N-limited ecosystems towards phosphorus (P) limitation. Plants have evolved strategies to respond to P limitation which affect N cycling in plant‐soil systems. A comprehensive understanding of how plants with efficient P‐acquisition or ‐use strategies influence carbon (C) and N cycling remains elusive. We highlight how P‐acquisition/-use strategies, particularly the release of carboxylates into the rhizosphere, accelerate soil organic matter (SOM) decomposition and soil N mineralisation by destabilising aggregates and organic‐mineral associations. We advocate studying the effects of P-acquisition/-use strategies on SOM formation, directly or through microbial turnover.