The invention describes a soy milk powder and a process for preparation thereof. The soy milk powder is prepared from whole soybean and does not have a "beany" taste, cause flatulence or contain residual hexane content from fractionated dissolved organic carbon. The process involves dehulling whole soybean soaking dehulled beans in alkaline solution to inactivate lipoxygenase enzymes, reduce oligosaccharides and improve protein recovery airless grinding of soaked beans to obtain slurry heating slurry to destroy trypsin inhibitor and to inactivate Lipoxygenase Centrifugally separating the aqueous extract from said slurry de-odorizing the aqueous extract under vacuum to improve flavour and taste profile homogenizing the aqueous extract with two stage homogenizer obtaining further concentration of the aqueous extract by use of a falling film evaporator spray drying of aqueous extract to obtain soy milk powder using a fluidized bed to get improved solubility of obtained soy milk powder.