The USDA Annualized Agricultural Non-Point Source Pollution model (AnnAGNPS) has been developed to aid in evaluation of watershed response to agricultural management practices. Previous studies have demonstrated the capability of the model to simulate runoff and sediment, but not phosphorus (P). The main purpose of this article is to evaluate the performance of AnnAGNPS on P simulation using comparisons with measurements from the Deep Hollow watershed of the Mississippi Delta Management Systems Evaluation Area (MDMSEA) project. A sensitivity analysis was performed to identify input parameters whose impact is the greatest on P yields. Sensitivity analysis results indicate that the most sensitive variables of those selected are initial soil P contents, P application rate, and plant P uptake. AnnAGNPS simulations of dissolved P yield do not agree well with observed dissolved P yield (Nash-Sutcliffe coefficient of efficiency of 0.34, R2 of 0.51, and slope of 0.24); however, AnnAGNPS simulations of total P yield agree well with observed total P yield (Nash-Sutcliffe coefficient of efficiency of 0.85, R2 of 0.88, and slope of 0.83). The difference in dissolved P yield may be attributed to limitations in model simulation of P processes. Uncertainties in input parameter selections also affect the model's performance.