Phosphorus (P) is an essential element for the growth and development of plants. Soybean (Glycine max) is an important food crop that is grown worldwide. Soybean yield is significantly affected by P deficiency in the soil. To investigate the molecular factors that determine the response and tolerance at low-P in soybean, we conducted a comparative proteomics study of a genotype with low-P tolerance (Liaodou 13, L13) and a genotype with low-P sensitivity (Tiefeng 3 , T3) in a paper culture experiment with three P treatments i.e., P-free (0 mmol·L -1), low-P (0.05 mmol·L -1), and normal-P (0.5 mmol·L -1). A total of 4,126 proteins were identified in roots of the two genotypes. Increased numbers of differentially expressed proteins (DEPs) were obtained from low-P to P-free conditions compared to the normal P treatment. All DEPs obtained in L13 (660) were up-regulated in response to P deficiency, while most DEPs detected in T3 (133) were down-regulated under P deficiency. Important metabolic pathways such as oxidative phosphorylation, glutathione metabolism and carbon metabolism were suppressed in T3, which could have affected the survival of the plants in P-limited soil. In contrast, L13 increased the metabolic activity in the 2-oxocarboxylic acid metabolism, carbon metabolism, glycolysis, biosynthesis of amino acids, pentose phosphatase, oxidative phosphorylation, other types of O-glycan biosynthesis and riboflavin metabolic pathways in order to maintain normal plant growth under P deficiency. Three key proteins (I1KW20 (prohibitins), I1K3U8 (alpha amylase inhibitors), and C6SZ93 (alpha amylase inhibitors) were suggested as potential biomarkers for screening soybean genotypes with low P tolerance. Overall, this study provides new insights into the response and tolerance to P deficiency in soybean.