The study was conducted to evaluate the effects of added phytase in the diet of pigs on utilization of minerals and to determine the essential levels of this supplement in compound feed. An additional aim of the study was a critical assessment of current recommendations regarding the level of phosphorus in the diet of pigs, taking into account the use of phytase. A total of 432 pigs were allotted to six dietary treatments, with nine replicate pens per treatment according to body weight (BW) and sex. The treatments included a negative control (NC) with reduced content of digestible phosphorus; the NC diet supplemented with 6-phytase produced by a genetically modified strain of Aspergillus oryzae in the amount of 250 (NC + 250), 500 (NC + 500), 1000 (NC + 1000), or 1500 (NC + 1500) FTU/kg of feed; and a positive control (PC) diet formulated to meet NCR nutrient requirements for pigs. The results showed that, the higher the phytase activity in the diet (NC+), the lower the concentration of P, Ca, and Mg in the chyme (p < 0.05). Pigs fed the PC and NC+ diets had higher plasma levels of P and Ca than group NC in both fattening periods (p < 0.05). The content of phosphorus in the femur of pigs increased with the level of phytase added to the diet (p < 0.05). The content of Cu and Zn in the femur of pigs in the growing period was higher in groups NC + 500 and NC + 1000 than in the remaining experimental groups (p < 0.001). The content of P and Ca in the feces was higher in pigs fed the PC diet in comparison to the remaining experimental groups in both fattening periods (p < 0.001). There was a decrease in the content of P, Ca, and Mg in the excreta of pigs fed NC+ diets in both fattening periods (p < 0.05). A linear decrease in excretion of zinc in the feces was noted in the case of high levels of phytase, i.e., 1000 and 1500 FTU (p < 0.001). Increasing the level of phytase decreased the Cu (p < 0.001) content in the urine of growing–finishing pigs. In conclusion, the analysis of the effects of the use of phytase in a range of 0–1500 FTU/kg in low-phosphorus diets for fattening pigs indicates that 1000 FTU is the most effective level of phytase for increasing utilization of minerals and reducing excretion of elements into the environment.