Traditional fermented food products such as fermented rice are known to possess probiotic potential. Probiotics are live microorganisms that provide a numerous health benefits. Microorganisms commonly used as probiotics include Bifidobacteria, Lactobacilli and certain yeasts. Hence the present research work aimed to study on lactic acid bacteria (LAB) group Lactobacillus. LAB were isolated from traditional fermented rice water. These isolates were found to have varying pH and bile salt tolerance, cell surface hydrophobicity, auto-aggregation, antibiotic susceptibility, and antibacterial activities. Our results indicated that the strain acts as a starter culture in the preparation of rice-based fermented foods. This strain increased the functional component (nutrients and minerals) levels of the fermented food items. Interestingly, this bacterium enhanced the mineral bioavailability via heightened phytase activity. Rapid acidification and the generation of organic acids by Lactobacillus improve the digestibility of the final product by reducing starches and increasing its antioxidant potential. Currently, beneficial effects of Lactobacillus are under investigation in vitro and in vivo to establish its probiotic characteristics. However, Lactobacillus spp. are further examining for their antibiotic resistance characteristics.