Abstract: The present invention relates to a stabilized fungicidal composition comprising: a) a fusaricidin-producing Paenibacillus sp. strain; and b) a stabilizing agent selected from the group consisting of an amine, a quaternary ammonium compound, a salt of phosphate or citrate, a short chain polyol having from 2 to 10 carbon atoms, a urea, and combinations thereof. The present invention also provides agriculturally acceptable stable aqueous formulations comprising a fusaricidin-producing Paenibacillus sp. strain and a stabilizing agent and methods of controlling disease in plants with the fungicidal compositions and aqueous formulations.