Renewable resources and their byproducts are becoming of growing interest for alternative energy. Here, we have demonstrated the use of Arkansas’ most important crop, soy, as a carbon precursor for the synthesis of carbonized activated materials for supercapacitor applications. Different soy products (soymeal, defatted soymeal, soy flour and soy protein isolate) were converted into carbonized carbon and co-doped with phosphorus and nitrogen simultaneously, using a facile and time-effective microwave synthesis method. Ammonium polyphosphate was used as a doping agent which also absorbs microwave radiation. The surface morphology of the resulting carbonized materials was characterized in detail using scanning electron microscopy. X-ray photoelectron spectroscopy was also performed, which revealed the presence of a heteroelemental composition, along with different functional groups at the surface of the carbonized materials. Raman spectroscopy results depicted the presence of both a graphitic and defect carbon peak, with defect ratios of over one. The electrochemical performance of the materials was recorded using cyclic voltammetry in various electrolytes including acids, bases and salts. Among all the other materials, soymeal exhibited the highest specific capacitance value of 127 F/g in acidic electrolytes. These economic materials can be further tuned by changing the doping elements and their mole ratios to attain exceptional surface characteristics with improved specific capacitance values, in order to boost the economy of Arkansas, USA.