Forty four faba bean rhizobial isolates were identified from acidic soil of Wollega, Ethiopia. Most of the isolates'' morphological and biochemical tests in addition to their authentication confirmed that more than 90% of strains were fast growing Rhizobium leguminosarum bv. Viceae. However, the isolates showed diversity in their ability to utilize the different carbon and nitrogen sources. Moreover, the ability of the rhizobial strains to tolerate the different levels of salt concentration, temperature, pH, antibiotics concentration and heavy metals toxicity were highly varied. Two strains (AUAVR-44 and AUVR-60) were the most extreme environment tolerant for the in vitro tests; though, it didn''t grantee their symbiotic effectiveness in the natural environment. Twelve isolates were tricalcium phosphate solubilizers; especially AUAVR- 51 and AUAVR-52 were registered for the highest Solubilization Index (SI= 2.10). In contrary, phosphate solubilizing strains were highly sensitive to extreme pH and Heavy metal toxicity tests.