Soybean oil is one of the most widely produced and consumed vegetable oils globally. Known for its rich fatty acid composition, including linoleic, oleic, and alpha-linolenic acids, soybean oil offers substantial nutritional and health benefits. It is not only a dietary staple but also a versatile component in industrial and biomedical applications. This review paper offers a comprehensive discussion on the emerging role of functionalized soybean oil (SO) in the development of sustainable polymers for tissue engineering (TE) and drug delivery systems (DDS). Plant oils, particularly soybean oil, offer significant environmental benefits, making them an excellent substitute for petroleum-based polymers and biomedical applications due to their biodegradability and low ecological footprint. Despite the burgeoning potential of soybean oil-derived polymers in revolutionizing natural-based biomaterials, there is a critical need for an in-depth review to thoroughly comprehend their capabilities and steer forthcoming innovations.This review aims to address the scientific gap by offering a comprehensive analysis of recent advancements in the biomedical application of soybean oil derivatives. The impact of this paper lies in its systematic collation of research on the design, fabrication, and utility of soybean oil-derived biomaterials, highlighting their significance in various medical applications, including therapeutic patches, wound care, and scaffolding in regenerative medicine. The review suggests future research directions and sets the stage for future innovations in soybean oil-based biomaterials, positioning these materials as crucial components in the pursuit of sustainable and effective biomedical solutions.