Abstract: High protein, low soluble-sugar, oil containing soybean meal suitable for use as a partial or full replacement of fish meal and other protein and energy sources in the manufacture of fish and land animal feeds and petfoods, is produced by a process in which oil is mechanically extracted from dehulled, flaked soybeans. Soluble sugars are then extracted from the defatted soybean cake using an ethanol/water mixture in a counter-current solvent extraction process. The resulting meal contains a minimum of about 8 percent by weight residual soybean oil, and it is dried, cooled and ground to produce a fine, free-flowing powder product. The process also produces a sugar syrup suitable for use as a fermentation source for the production of ethanol, and a premium soybean oil. This syrup is also suitable to be used as a taste enhancer for animal feed (typically added to the soybean meal).