A soybean protein having both excellent color tone and heat gelling properties is disclosed. The soybean protein has a color tone of 25 or more as a z value of its 5% aqueous solution measured by a color difference meter and a heat-gelling value of 250 g.multidot.cm or more as a gel strength of its 18% aqueous solution heated at 80.degree. C. for 30 minutes measured by a rheometer with a plunger ball of 4 mm diameter. A process for producing a soybean protein comprising adding 2 to 5 parts by weight of water to one part by weight of defatted soybeans and holding the mixture at 55.degree. to 80.degree. C. for 10 minutes or more before extraction of the soybean protein from the defatted soybeans with water is also disclosed.