A major crop in oilseed production, soybeans are an essential source of animal feed and a high value health food in the modern day due to their unique combination of leguminous, oilseed, and nutraceutical qualities. Although increasing yield is the main objective of soybean breeding, there is a lot of room for genetic advancement to satisfy the various needs of the soy sector. This chapter covers the global history of soybean and looks at the morphological characteristics that are important for breeding. The study delves into the primary methods of breeding soybeans, the genetic foundation of significant qualitative and quantitative features, and the essential measures to enhance yield components, resistance to major diseases, protein and oil augmentation, and oil quality improvement. It also discusses the necessity of lowering or getting rid of unfavorable characteristics like lipoxygenase that generate off-flavors and anti-nutritional elements like the Kunitz trypsin inhibitor. This chapter also discusses transgenic, molecular, and conventional methods for accomplishing these breeding goals.