Information on the chemical composition of phosphorus (P) fractions in sediments is fundamental to understanding P bioavailability and eutrophication in lake ecosystems. Phosphorus fractions and its bioavailability in sediments cores of Lake Hongfeng, southwest China, were investigated using a chemical sequential extraction scheme. Relationships between P fractions, P bioavailability and particle sizes were discussed. P fractions concentrations were ranked in the order: Residual-P[NaOH–rP[NaOH– NRP[HCl–P[BD–P[NH4Cl–P, and all of them decreased with increasing sediment depth. Statistical analysis showed that concentrations of bioavailable P (BAP) which includes the NH4Cl–P, BD–P, NaOH–rP and NaOH–NRP fractions ranged from 404.68 to 1,591.99 mg/kg and accounted for 26.8–71.8 % of the concentrations of total phosphorus (TP) in the top 5 cm sediments, whereas in the whole sediment cores, their concentrations ranged from 239.70 to 1,591.99 mg/kg and accounted for 26.8–76.0 % of TP. The results suggested that the sediments were a large potential source of P for algae blooms in Lake Hongfeng. Phosphorus fractions and their potential bioavailability were influenced by the sediment particle sizes, especially the bioavailability of the NH4Cl–P fraction, which was strongly affected by the presence of fine particle sizes in the sediments.