During germination, the nutritional and functional components of soybeans can undergo a complicated biological transformation. To date, there has been no comprehensive report of the edible value of soybeans and soybean sprouts based on their nutritional and functional constituents. In the present study, the main constituents of soybean sprouts were assessed at 0, 24, 48, 72, and 96 h during germination. The transformative trends in the standardized germination process are described. The results indicated that total protein, total amino acid, vitamin C, total dietary fiber, and total phenolic compounds increased gradually, that concentrations of high-molecular-weight proteins and crude fat decreased, and that concentrations of isoflavones decreased sharply during the initial germination stage and then increased steadily afterward. The antioxidant capacity and α-glucosidase inhibitory activity were also studied. These results indicate that the nutritional and functional value of soybean sprouts improves over the course of germination.