This study used glycine (Gly), glucose (Glu), and soybean meal phytic acid (PA) as raw materials to investigate the effect of different PA addition amounts on the Gly-Glu Maillard reaction system and the antioxidant capacity of the products through rheological properties, particle size, chromatography, and other methods. The results showed that with the addition of PA, the apparent viscosity and average particle size of the system decreased, the thermal denaturation temperature increased, the product concentration decreased, the color became brighter, and the antioxidant performance was enhanced. This indicates that PA reacts with Gly and Glu to form PA - Gly and PA - Glu complexes, respectively, and hinders the Maillard reaction. This work demonstrates the potential application value of soybean meal PA in controlling the Maillard reaction.