The present invention addresses the problem of providing a soybean-derived raw material-containing food or beverage that improves problems with flavor and physical properties, such as the grassy smell caused by soybean raw materials, and markedly improves product quality, in a soybean-derived raw material-containing food or beverage using conventional soybean raw materials such soymilk or tofu. Provided are a milk-substitute composition, and an egg-yolk substitute composition, etc., characterized by including a soybean emulsion composition having a protein content relative to dry material of at least 25 wt %, a fat content (as a chloroform/methanol mixed solvent extract) relative to the protein content of at least 100 wt %, and an LCI value of at least 55%. Also provided are a variety of soybean-derived raw material-containing food and beverages using these compositions.