The influence of steaming treatment on the soluble dietary fiber (SDF) of sweet potato was investigated. The SDF content increased from 2.21 to 4.04 g/100 g (in dry basis) during 20 min of steaming. The microcosmic morphology of the fractured cell wall indicated the release of SDF components during steaming. The SDF from fresh (SDF-F) and 20 min steamed (SDF-S) sweet potato was characterized. The neutral carbohydrates and uronic acid levels in SDF-S were significantly higher than SDF-F (59.31% versus 46.83%, and 25.36% versus 9.60%, respectively) (p < 0.05). The molecular weight of SDF-S was smaller than SDF-F (5.32 kDa versus 28.79 kDa). The probiotic property was evaluated by four Lactobacillus spp. fermentation in vitro with these SDF as carbon source, using inulin as the references. SDF-F showed the best proliferation effects on the four Lactobacillus spp. in terms of the OD600 and pH in cultures, and the highest production of propanoic acid and butyric acid after 24 h fermentation. SDF-S presented higher Lactobacillus proliferation effects, but slight lower propanoic acid and butyric acid production than inulin. It was concluded that 20 min of steaming released SDF with inferior probiotic properties, which might derive from the degraded pectin, cell wall components, and resistant dextrin.