As the widely distributed and abundant living entities in soil, bacteriophages' existence strictly depends on their host bacteria. Through lysogenic and lytic cycles, bacteriophages not only directly result in the bacterial lysis, but also lead to the horizontal gene transfer between bacteria, which further regulate the abundance, composition and functioning of bacterial community, as well as the biogeochemical cycling of soil nutrient elements. Therefore, the role of bacteriophages on the biogeochemical cycling of nutrient elements and the underlying mechanisms have been the emerging hot topics. This paper reviewed the recent progresses in the impact of bacteriophages on carbon and nitrogen transformation in soil from the perspectives of top-down and bottom-up regulation. Moreover, the environmental factors that limit the effects of bacteriophages on soil carbon and nitrogen transformation were also discussed. Meanwhile, the future prospect concerning bacteriophages research in soil environment was also proposed, which could provide a scientific reference for elucidating the mechanism of bacteriophages' effect on carbon and nitrogen cycling in soil.