The content of phosphorus in soil plays an important role in maintaining the balance of the ecosystem. In order to study the impact of migratory birds inhabiting and dropping guano on the soil ecological environment in Hangzhou Bay wetland, the research of phosphorus accumulation and distribution of various forms of phosphorus in soil and guano was carried out in the area with or without egrets inhabiting (affected area and controlled area). The results showed that the content of Soil Organic Carbon (SOC), Total Nitrogen (TN), Total Phosphorus (TP) and Available Phosphorus (AP) in the egrets effecting area was significantly higher than that in the controlled area (P<0.05). The soil TP content in the controlled area was 718.33 mg/kg, which was up to 2040 mg/kg in the affected area. The content of Ca-bound P (Ca-P) rank first among all these forms of phosphorus, accounting for about 55.22—62.96%, followed by Residual Phosphorus (RP), Organic Phosphorus (OP), Fe/Al-bound P ((Fe+Al)-P) and Exchangeable P (Exch-P). The contents of Organic Carbon (OC), TN, and TP in guano were 11.18—40.90 times, 94.22—148.11 times and 15.41—43.22 times of the soil, showing significant difference (P<0.01). TP content showed extremely significantly positive correlations with Exch-P, (Fe+Al)-P, Ca-P, AP, significantly positively correlated with RP, while significantly negatively correlated with pH. Generally, the content of TP in soil of Hangzhou Bay wetland was significantly increased due to guano input. The content of Exch-P, (Fe+Al)-P, Ca-P and AP were all increased, so as the percentages of them did in TP. Input of guano caused the accumulation of phosphorus in the soil which increased the risk of phosphorus loss from the soil, as well.