The invention provides an economical method to produce a milk replacer by using soybean refuse which is an economical protein source but was unsuitable as milk replacer. The milk replacer is obtained by: grinding soybean refuse to reduce particle size; bleaching and drying the grinded soybean refuse; adding necessary nutrients. This method improves the color, the flavor and the solubility of soybean refuse such that it can be used in place of dried milk powder.
