Water stress has a significant effect on yield and quality of soybean through negatively influencing seedling establishment, growth, phenology and finally yield of soybean. The enhancement of soybean productivity and quality against water stress, application of proline, glycine betaine and soil application of compost play a vital role for improving the physiological processes. The current review highlights the physiological responses of soybean during various growth stages under water stress. Additionally, the review evaluates the mitigation mechanism of the adverse of water deficit stress on soybean through exogenous application of osmoprotectants as well as soil application of organic amendments. The study also tried to summarize the current understandings of exogenous application of osmoprotectants such asproline and glycine betaine, and soil amendments that could be used to minimize the harmful effect of water stress on seed yield and quality of soybean.