Due to the hazard of the commercial rubber processing oil such as distillate aromatic extract (DAE), many rubber researchers play attention to find the green alternatives. Vegetable oils seem to gain a lot of attraction for this. It is not just only due to their environmentally friendly nature but also their abundance and affordable cost. The use of soybean oil (SBO) for the carbon black-filled rubber compounds was focused here and comparatively discussed with the use of DAE. Furthermore, this work also proposed the way to improve the mechanical properties and environmental endurance of the rubber compounds containing SBO by adding coagents. There were two types of coagent including trimethylolpropane trimethacrylate (TMPTMA) and triallyl isocyanurate (TAIC) used here. It was found that the cure time, cure rate index, and cure reaction rate constant of SBO-added rubber compounds with and without coagents were higher than those of DAE-added rubber compounds, whereas the activation energy of SBO-added rubber compounds was lower than the one with DAE. Without coagent, the mechanical properties of rubber compounds with DAE and SBO are equal. However, the addition of coagents improved the mechanical properties of rubber compounds containing SBO. The modulus at 100% strain, modulus at 200% strain, and tensile strength of TMPTMA-added rubber compounds increased by 41%, 48%, and 15%, respectively, whereas the rubber compounds with TAIC increased by 7%, 8%, and 20%, respectively, when compared to the one with SBO alone. Interesting, the SBO-added rubber compounds with and without coagents showed better thermal aging and ozone resistances than the DAE-added rubber compounds. All results showed that the presence of coagents especially TMPTMA gave the SBO-added rubber compound with the superior performance to the DAE-added rubber compound and the SBO-added rubber compound without coagent.