Bio-based phytic acid (PA) as a nontoxic naturally occurring compound is a promising prospect for flame-retardant (FR) modifications to polymers. In this work, PA was applied to wool fabric using an exhaustion technique, and the adsorption and FR properties of PA on wool fabric were studied. The flame retardancy of the treated wool fabrics depended greatly on the adsorption quantity of PA, which was related to the pH of treatment solution, immersing temperature and initial PA concentration. The Langmuir adsorption of PA took place due to electrostatic interactions between PA and wool fiber. The limiting oxygen index, vertical burning and pyrolysis combustion flow calorimetry tests revealed that the treated wool fabrics exhibited good flame retardancy. The measurements of the phosphorus content of the burned fabric residues and thermogravimetric analyses suggested that a significant condensed-phase FR action was applicable to the PA treated fabrics. PA treatment was found to have little adverse effect on the whiteness and mechanical performance of wool. Additionally, the washing resistance of the FR fabrics should be further improved.