A process for preparing soybean milk and okara, in particular, improved pulverization of impregnated soybeans comprises carrying out pulverization of impregnated soybeans by the steps of cutting the impregnated soybeans with a device having rotating blade(s) to provide particles having an average diameter of less than about 100 mu m; grinding the soybean particles obtained with a device which exerts frictional shearing stress to provide an aqueous soybean slurry; and separating the water-soluble portion of the slurry from the water-insoluble portion to provide soybean milk and okara. The soybean milk and okara obtained possess a pleasant flavor and mild taste.
