This study examined the link between terrestrial and aquatic phosphorus (P) speciation in the soils and sediments of a subtropical catchment. Specifically, the study aimed to identify the relative importance of P speciation in source soils, erosion and transport processes upstream, and aquatic transformation processes as determinants of P speciation in lake sediments (Lake Wivenhoe). Using a sequential extraction technique, NH4Cl extractable P (NH4Cl-P; exchangeable P), bicarbonate-dithionite extractable P (BD-P; reductant soluble P), NaOH extractable P (NaOH-rP; Al/Fe oxide P), HCl extractable P (HCl-P; apatite-P), and residual-P (Res-P; organic and residual inorganic P) fractions were compared in different soil/sediment compartments of the upper Brisbane River (UBR) catchment, Queensland, Australia. Multidimensional scaling identified two distinct groups of samples, one consisting of lake sediments and suspended sediments, and another consisting of riverbed sediments and soils. The riverbed sediments and soils had significantly higher HCl-P and lower NaOH-rP and Res-P relative to the lake and suspended sediments (P < 0.05). Analysis of the enrichment factors (EFs) of soils and riverbed sediments showed that fine grained particles (<63 孩 were enriched in all but the HCl-P fraction. This indicated that as finer particles are eroded from the soil surface and transported downstream there is a preferential export of non-apatite P (NaOH-rP, NaOH-nrP, BD-P and Res-P). Therefore, due to the preferential erosion and transport of fine sediments, the lake sediments contained a higher proportion of more labile forms of inorganic-P relative to the broader soil/sediment system. Our results suggest that a greater focus on the effect of selective erosion and transport on sediment P speciation in lakes and reservoirs is needed to better target management strategies aimed at reducing P availability, particularly in P-limited water bodies impacted by soil erosion.