Estimation of variability, heritability, genetic advance, correlation and path analysis were carried out in soybean for 11 characters. The highest genotypic and phenotypic coefficient of variances were observed for plant height followed by seed yield per plant and pods per plant and it was lowest for days to 50% flowering, days to maturity, protein content and pod length. High heritability and genetic advance were observed for plant height, seed yield per plant and pods per plant. Seed yield per plant was positively and significantly correlated with plant height, pods per plant, days to 50 per cent flowering and days to maturity. Pod per plant recorded highest positive direct effect on seed yield per plant followed by plant height. The studies suggest that selection for pods per plant, seed yield and plant height to evolve high yielding varieties of soybean.