Background:　Rising　health　awareness　has　driven　tremendous　public　interest　among　food　manufacturers　and　academicians　in　identifying　and　developing　novel　functional　foods.　Studies　on　the　health-promoting　benefits　of　soy　products　and　their　quality　improvement　measures　have　become　the　hotspot　across　the　globe.　However,　there　is　limited　information　summarizing　the　existing　soy　products　and　their　improved　quality　attributes　associated　with　different　technical　strategies.　Scope　and　approach:　New　processing　strategies　(physical,　chemical,　and　biological)　applied　in　the　modification　of　various　soy　products　are　summarized　and　their　pre-　and　post-modified　quality　attributes　are　systematically　reviewed.　The　current　review　also　highlights　the　role　of　fermentation　in　enhancing　the　nutritional,　sensory,　and　health-promoting　features　of　soy　products.　Key　findings　and　conclusions:　Traditionally　processed　soy　products　exhibit　intrinsic　quality　defects　such　as　beany　flavor,　high　anti-nutrients　content,　complex　structure,　and　low　bioavailability　of　soy　protein　and　isoflavones.　New　processing　strategies　including　blending　with　extra　ingredients,　non-thermal　treatment,　dietary　fiber　modifications,　acid　treatment,　germination　and　tailored　fermentation　could　render　these　soy　products　with　improved　nutritional　and　sensory　characteristics,　especially,　fermentation　has　been　reported　to　provide　soy　products　with　enhanced　health-promoting　features　such　as　anti-diabetic,　anticancer,　anti-inflammatory,　and　antioxidant　effects　as　well　as　improving　the　cardiovascular　and　bone　health.　The　information　accumulated　in　this　review　may　provide　up-to-date　evidence　supporting　diversified　soy　products　as　a　class　of　important　functional　foods.