Rice (Oryza sativa L.) is the most widely consumed staple crop for approximately half of the world’s population. Many interactions take place in paddy soil, particularly in the rice mycorrhizosphere region. Arbuscular mycorrhizal fungi (AMF) and soil microbe interactions are among the most important and influential processes that occur, as they significantly influence the plant growth and soil structure properties. Their interactions may be of crucial importance to the sustainable, low-input productivity of paddy ecosystems. In this study, we summarize the major groups of microbial communities interacting with arbuscular mycorrhizal fungi in the rice mycorrhizosphere, and discuss the mechanisms involved in these arbuscular mycorrhizal fungi and microbe interactions. We further highlight the potential application of arbuscular mycorrhizal mutualism in paddy fields, which will be helpful for the production of bioinoculants in the future.