This study is aimed at extending the soybean hulls’ lifetime by their utilization as an adsorbent for metal ions (Cd2+ and Cu2+) and dyes (Reactive Yellow 39 (RY 39) and Acid Blue 225 (AB 225)). ATR-FTIR spectroscopy, FE-SEM microscopy, and zeta potential measurements were used for adsorbent characterization. The effect of the solution’s pH, peroxidase extraction, adsorbent particle size, contact time, the pollutant’s initial concentration, and temperature on the soybean hulls’ adsorption potential was studied. Before peroxidase extraction, soybean hulls were capable of removing 72% Cd2+, 71% Cu2+ (at a pH of 5.00) or 81% RY 39, and 73% AB 225 (at a pH of 3.00). For further experiments, soybean hulls without peroxidase were used for several reasons: (1) due to their observed higher metal ion removal, (2) in order to reduce the waste disposal cost after the peroxidase (usually used for wastewater decolorization) extraction, and (3) since the soybean hulls without peroxidase possessed significantly lower secondary pollution than those with peroxidase. Cd2+ and Cu2+ removal was slightly increased when the smaller adsorbent fraction (710-1000 μm) was used, while the adsorbent particle size did not have an impact on dye removal. After 30 min of contact time, 92% and 88% of RY 39 and AB 225 were removed, respectively, while after the same contact time, 80% and 69% of Cd2+ and Cu2+ were removed, respectively. Adsorption of all tested pollutants follows a pseudo-second-order reaction through the fast adsorption, intraparticle diffusion, and final equilibrium stage. The maximal adsorption capacities determined by the Langmuir model were 21.10, 20.54, 16.54, and 17.23 mg/g for Cd2+, Cu2+, RY 39, and AB 225, respectively. Calculated thermodynamic parameters suggested that the adsorption of all pollutants is spontaneous and of endothermic character. Moreover, different binary mixtures were prepared, and the competitive adsorptions revealed that the soybean hulls are the most efficient adsorbent for the mixture of AB 225 and Cu2+. The findings of this study contribute to the soybean hulls’ recovery after the peroxidase extraction and bring them into the circular economy concept.