Abstract: The rhizosphere plays an important role in soil nutrient mobilization or immobilization. Understanding the underlying mechanisms and regulating factors of these rhizosphere processes would not only improve the capacity of plant nutrient acquisition, but also benefit agricultural sustainable development and environmental protection. Plants could mobilize and utilize soil nutrient elements through adjusting root morphology and architecture, releasing root exudates, and forming symbiotic relationships with rhizosphere microorganisms. In addition, specific root exudates and rhizosphere microorganisms could also induce nutrient immobilization through microbial immobilization or physiochemical processes. This review introduces the general concept of plant rhizosphere and summarizes recent global research on rhizosphere nutrient acquisition strategies. It mainly states how the rhizosphere influences soil nutrient mobilization and immobilization through the regulation of root exudate composition, optimization of root system architecture, and modulation of microbial community succession. The review further details the mechanisms governing the mobilization and immobilization of organically bound nutrients (nitrogen, phosphorus, sulfur), base cations, and trace elements. Based on engineering principles, prospects are proposed for rhizosphere regulation technologies for soil nutrient mobilization or immobilization. In the future, it is recommended to adopt regulatory approaches such as selection of deep-rooted crops, microbial inoculation, conservation tillage, and organic fertilizer application, so as to provide important support for efficient soil nutrient utilization, stable and high crop yields, and sustainable agricultural development.