To explore the groundwater recharge rate and soybean growth dynamics under different groundwater depths, we conducted a field experiment with four groundwater depth treatments (1 m, D1; 2 m, D2; 3 m, D3; 4 m, D4) through the groundwater simulation system in 2021 and 2022 and explored the relationships between groundwater depth and groundwater recharge, irrigation, growth dynamics of soybean plants, and yield. We used the Logistic regression model to simulate the dynamics of soybean growth indices, including plant height, leaf area index, and dry matter accumulation. The results showed that compared with D1 treatment, the amount of groundwater recharge under D2, D3, and D4 treatments decreased by 81.1%, 96.8%, 97.5% and 80.7%, 96.7%, 97.3% in the two years, respectively. The groundwater in D1 treatment could meet water needs of soybean throughout the whole growth period, except that irrigation was needed in the sowing stage. The amount of irrigation under D1 treatment was decreased by 91.7%, 93.0%, 94.2%, and 90.9%, 92.9%, 94.0% in the two years, respectively, compared with D2, D3, D4 treatments. Among the four treatments, D1 treatment took the shortest time for entering the rapid growth stage and reach the maximum growth rate, which had the highest maximum growth rate. At the mature stage of soybean, the dry matter distribution ratio of stem in D1 treatment was the highest. D1 treatment promoted the translocation of post-flowering assimilates in soybean, and its post-flowering assimilate contribution to seeds increased by 15.5%, 16.2%, 32.6% and 45.5%, 48.7%, 63.3% in the two years, respectively, compared with D2, D3, D4 treatments. D1 treatment had the highest plant height, leaf area index, and dry matter accumulation, follo-wed by D4 treatment, while D3 treatment had the lowest. Soybean yield, number of pods per plant, number of grains per plant, and 100-grain weight all decreased and then increased with increasing groundwater depth, following an order of D1>D4>D2>D3. Soybean yield was significantly positively correlated with groundwater recharge, which was positively correlated with plant height, leaf area index, and dry matter accumulation. Our results indicated that the D1 treatment with adequate groundwater recharge increased plant height, leaf area index, and dry matter accumulation, coordinated the distribution and translocation of dry matter among all plant parts in the late soybean growth period, and ultimately achieved the highest yield. When groundwater depth was deep (D4), groundwater recharge was small. In such case, the growth and development status and yield of soybean could also reach a high level if there was sufficient water supply.