The present study investigated the antagonistic and plant growth promoting (PGP) potential of actinobacteria TT3 isolated from tea rhizosphere soil of Tocklai tea germplasm preservation plot, Jorhat, Assam, India. It is a Gram-positive, filamentous with flexible spore chains actinobacteria. The 16S rRNA gene sequencing and phylogenetic analysis indicated that TT3 is closely related to genus Streptomyces for which it was referred to as Streptomyces sp. TT3. It showed very promising PGP traits such as phosphate solubilization, production of indole acetic acid (IAA), siderophore, and ammonia. Evaluation of ethyl acetate extract of TT3 exhibited broad spectrum antagonistic activity against various fungal pathogens. This antagonistic Streptomyces sp. TT3 showed positive for polyketide synthase type II (PKS-II) gene, which was predicted to be involved in the production of actinorhodin as a secondary metabolite pathway product using DoBISCUIT database. Further, the crude ethyl acetate extract of TT3 was analyzed by using GC-MS and revealed the presence of significant chemical constituents responsible for antimicrobial activity. Thus, the present study suggests that actinobacteria isolated from the rhizosphere soil may be explored for the production of bioactive compounds and use as a potential candidate for tea and other agricultural application.