Kind of like soy milk, soybean oil has a neutral taste that blends well with lots of dishes. Soybean oil is often used for frying and for other high-heat methods of cooking, Cording says. Hydrogenated forms, because they preserve texture and provide a rich mouthfeel, can have a long shelf life, and are a common ingredient in packaged snacks, frozen foods, and condiments like mayonnaise and margarine. In addition to healthy polyunsaturated fats and the Vitamin E of other oils, soybean also packs vitamin K, which is important for bone health. But be careful: this is often used in packaged goods with lots of trans fat (the worst kind).
Pro tip: In general, there is a lot of controversy surrounding soy, especially when it comes to GMO sources, says Cording. So, this particular oil may be best kept off the shopping list unless you are using a non-hydrogenated source clearly labeled as non-GMO.
Other uses: You may see soybean oil as an ingredient in skincare and haircare products; the antioxidants protect against free-radical damage related to sources like pollutants and the sun. Interestingly, it may also be used as an insect repellent.