For general isolation, you can culture the microbes after serial dilution of the soil on Nutrient Agar plates. Than you can separate each of them by further inoculating the microbes on the plates
I suggest you to use the R2A media. It's suitable for the isolation of various taxa from soil. Another trick would be to dilute it at 1/10, in order to get a better recovery since soil microflora grows better in low nutrient media.
I suppose that Farhan and Hadj forgot, that soil microbial concsortia contain also another microorganisms than bacteria. So for isolation of yeast and molde you can use malth extract broth. Pleasde have a look at
As stated by Farhan the culture base technique for isolation of different species of bacteria is done on a simple medium like nutrient agar and further subculturing of various colony will be made for characterization and identification
It is very difficult to select a medium for isolate general microorganisms from soil. As the colleagues said above, the media LB, NA and R2A are good options to obtain bacteria... For fungal isolates, the media PDA and Yeast-Malt extract are also good choices. Indeed, for bacterial isolation add some amount of fungicides, for example cyclohexamide or nistatin... For fungal isolation, add an antibiotic such as chloramphenicol...
But, first of all!! Take care about the microbial isolates obtained!! Soil harbors several pathogenic fungi and bacteria. We already had obtained some isolates of Bacillus anthracis and Cryptococcurs neoformans from directly soil isolation. So, before the identification of microbes, use the adequate safety apparatus in your laboratory.