A method of treating hyperphosphatemia in a subject comprises the step of administering to the subject an effective amount of a pharmaceutically acceptable zinc salt. A pharmaceutical composition comprises a pharmaceutically acceptable carrier; a pharmaceutically acceptable zinc salt; and a phosphate sequestrant. In one embodiment, the phosphate sequestrant is selected from a pharmaceutically acceptable lanthanum, calcium, magnesium and iron salt. In another embodiment, the phosphate sequestrant is an amine polymer, wherein the molar ratio of a zinc ion of the zinc salt to amine nitrogen atoms in the amine polymer is 0.1-3.0. The invention also includes a pharmaceutical composition comprising a pharmaceutically acceptable carrier; a pharmaceutically acceptable zinc salt; and an agent selected from the group consisting of a phosphate transport inhibitor, an HMG-CoA reductase inhibitor and an alkaline phosphatase inhibitor.