Abstract The expansion of soybean cultivation in South America has created substantial economic prosperity but has also raised a series of unsustainable land-use issues. Considering the telecoupling system (a system of socio-ecological interactions between distant places) between South America and its soybean trade partners, transnational governance could play an important role in addressing these issues. To achieve effective governance of this specific telecoupling system, this study applies a polycentric approach to improve the existing transnational governance and identify more suitable governance arrangements. This study first explores the telecoupling system and the existing transnational governance system of soybean land use in South America. It then compares the existing governance system with the polycentric approach to examine the gaps between them. Based on these analyses, suggestions for improving the governance system are provided, including increasing the involvement of major governance centres, improving public-private partnerships, and establishing a knowledge-sharing platform.