Wound healing is a major challenge worldwide, and people have been researching wound dressings that can promote wound healing for decades. Natural biobased materials, such as polysaccharides and proteins, have been widely used in the development of wound dressings. Among them, soy protein-based materials have attracted the interest of a wide range of researchers due to their safety, biocompatibility, controlled degradation, and ability to be mixed with other materials. However, there has been a lack of comments on these soy protein-based wound dressings. This work reviews various forms of soy protein-based wound dressings, such as hydrogels, films, and others, which could be prepared through physical/chemical cross-linking with synthetic or natural polymers. The important role played by soy protein-based materials in the wound healing phase and their properties will be examined, such as their anti-inflammatory, antioxidant, angiogenesis-promoting, cellular biocompatibility, self-healing ability, adhesion, antimicrobial, and tunable mechanical properties. Additionally, insights into the market prospects and trends for soy protein dressings are provided, clarifying the enormous development potential of soy protein as a new type of wound repair material.