Soybean has the potential to be termed the “crop of the future” due to its significant capacity to address protein-energy malnutrition and hidden hunger, particularly in developing countries where diets are predominantly based on wheat and rice. Despite its substantial nutritional value, numerous health benefits, and its versatility in various food and industrial applications, soybean’s full potential remains underutilized due to inherent off-flavors and the presence of antinutritional factors (ANFs). Gamma irradiation is known to have a positive impact by inducing structural and chemical changes in biomolecules like carbohydrates, lipids, proteins, and other phytochemicals. This process leads to improved functionality and market demand by reducing ANFs and the off-flavor in soybeans. Scientifically, it has been demonstrated that low to moderate doses of gamma radiation, up to 10 kGy, can positively influence the antioxidant capacity of soybeans. This, in turn, helps control lipid and protein oxidation, reducing the generation of off-flavors and enhancing the quality and nutraceutical potential of soybeans.