Soybean is one of the most important crops for food and oil. With the increasing demand in recent years, China has imported more and more soybean from abroad. Enlarging the planting area and improving the yield per hectare are effective ways to increase the soybean production. Northwest of China, especially Xinjiang has the potential of enlarging the planting area and improving the yield per hectare for soybean production in China. This paper analyzes the feasibility of developing soybean production in Xinjiang from the aspects of the natural climatic conditions of soybean production, the planting situation of soybean, and the advantages and limitations of developing soybean production in Xinjiang. Then, it provides suggestions for future development of soybean production in Xinjiang on policy support, improvement of mechanization level, accelerating scientific and technological innovation to cultivate elite varieties, and strengthening soybean production demonstration.