Iron is one of the essential metal elements in the life process of plant cells, which is involved in respiration, chlorophyll biosynthesis, photosynthesis and other life processes. The soil contains a large amount of iron, but the use of available iron is limited, resulting in iron deficiency in plants, which is directly related to their growth and development, pollen viability and quality formation, and thus resulting in yield loss. An important measure to solve this problem is how to improve the absorption and efficient utilization of iron in soybeans. Therefore, mastering the law of soybean iron absorption and utilization and clarifying the molecular genetic mechanism behind it are important prerequisites for achieving efficient utilization of iron in soybean. This article focuses on the absorption and transportation of iron in soybean, the involvement of iron in soybean nitrogen fixation, and the effects of iron deficiency and high iron on soybean. It reviews the progress, important scientific issues, and directions in the absorption, transportation mechanisms, and molecular regulation mechanisms of iron in soybean at home and abroad, aiming to provide theoretical information for the efficient utilization of iron nutrition in soybean.