In this study a pot experiment was conducted to investigate the effects of differently pre-treated straws on wheat yield, soil physiochemical properties, as well as microbial community structure, composition, and abundance, in which four treatments were setup as: no straw addition (CK); addition of maize straw (S); addition of composted maize straw under no fungi inoculation (SC); addition of composted maize straw under inoculation of Phanerodontia chrysosporium and Aspergillus niger (SCPA). The results showed that: compared to CK, S, SC and SCPA significantly reduced the concentrations of soil ammonium nitrogen and nitrate nitrogen contents, and increased soil microbial biomass carbon and nitrogen, and soil organic carbon contents. SCPA had the highest microbial biomass nitrogen content, which was equivalent to an increase in soil nitrogen assimilation of 39.6 kg/hm² compared to CK. SCPA also significantly increased wheat yield by 12.7% compared to CK. The addition of organic materials significantly changed soil bacterial and fungal community structures, and SCPA significantly increased the absolute abundance of Hypocreales in the soil. The analysis of Mantel test revealed that soil dissolved organic carbon and nitrate nitrogen were primary factors regulating the composition of soil bacterial community, whereas soil organic carbon and pH primarily regulated the composition of soil fungal community. In conclusion, composted maize straw under inoculation of Phanerodontia chrysosporium and Aspergillus niger significantly increased wheat yield and microbial biomass nitrogen content, improved soil nitrogen retention, and affected soil microbial habitat. The results provide the evidences that composted straw under inoculation of fungi is beneficial to soil health and the increase in nitrogen retention and wheat yield.