In this review, some recognized modifications utilized in the preparation of soy cheese and cheese analogs produced with soymilk are discussed. Soymilk is an inexpensive, nutritive dairy substitute that is used to make cheese and cheese analogs by people worldwide. The components of soy components, including isoflavones, have beneficial health effects that support the amelioration of chronic and degenerative diseases. However, the quality characteristics of such cheeses can be diminished, especially the taste and structure. Its quality is affected by soybean variety, storage temperature, soymilk-processing conditions, stirring speed, coagulation temperature, type of coagulator, and coagulator's concentration ratio. Over the years, researchers have studied to improve soy cheese characteristics by improving its structure, flavor, color, and nutrition quality. Structure of cheese types have been developed, including soft cheeses like tofu and cream cheese types, cheese types with different milk type combinations, soy-paneer, soy-mozzarella, and hard type cheeses. Flavor development has attempted to reduce the unpleasant beany flavor by adding spices and other ingredients, or blending with other milk types. Reduction of lipoxygenases in soymilk helps to reduce rancidity and protect the odor. Color is improved with microbes or colored food ingredients like carrots. Using Lactobacillus spp. and Bifidobacterium spp. microbes, probiotic soy cheese types have been developed with improved nutritional quality. Production of soymilk using sprouted and frozen seeds has resulted in nutritionally improved soy cheeses. Soy cheeses and their analogs act as functional foods and improvements to these cheeses upgrade their values and consumer acceptance.