Soybean accounts for over a quarter of the world's oilseed consumption and over 70% of the world's protein meal consumption. The separate development of high oleic, low linolenic acid (HOLL) soybean and high‐protein (HP) soybean means that no soybean cultivar on the market has an optimal fatty acid profile and increased protein. The objective of this study was to develop and evaluate high protein, high oleic acid, and low linolenic acid (HP‐HOLL) soybean. A five‐gene stack was created using a two‐phase forward breeding scheme and marker‐assisted selection method. Forty‐six HP‐HOLL lines from three genetic backgrounds were grown in six environments in the Southeast United States. Although genotype‐by‐environment interaction was significant for seed composition traits, lines met the >75% and <3% cutoffs for oleic acid and linolenic acid, respectively, and met or exceeded the protein concentration of the HP parent. No negative interaction could be detected between the HP and HOLL traits. Additionally, yield testing in four environments indicated yield parity for some lines, suggesting HP and HOLL soybean cultivars with high yield could be selected.