A beaded soffit panel and related method for buildings and the like includes a plurality of generally flat, imperforate base portions shaped to enclose at least a portion of the soffit when the soffit panel is mounted in a generally horizontal orientation under the eave. A plurality of generally M-shaped, contoured beads extend between the base portions, and have oppositely inclined sidewalls with center walls therebetween to create a decorative appearance on the soffit panel. A plurality of narrow vent slits extend through the exterior faces of the bead sidewalls at a predetermined acute angle to define angled tabs that extend inwardly, whereby when the soffit panel is installed, vision through the vent slits from a position generally underneath the eave is substantially blocked by the angled tabs.