Objective: The present study is carried out to investigate the protective effect and antioxidant activity of soybean and thyme on iron deficiency anemia. Material and Methods: Thirty five male albino rats were divided into five groups (7rats each). The first group fed on basal diet, iron sufficient (35 mg Fe / kg), and served as control. Rats of other groups (second - fifth) were induced anemic by placing them on diet containing 3mg Fe / kg for 21 days, then divided to four dietary groups. The second group (anemic) stayed on basal diet with Fe-deficiency. The third group fed on basal diet with sufficient iron in the form of ferrous sulphate. The fourth group fed modified basal diet free from iron and supplemented with soybean. The fifth group fed basal diet free from iron and supplemented with thyme. All three iron sources provide 35 mg iron/kg diet. At the end of experiment (49 days), rats were anesthetized, whole blood was used for determination of hemoglobin (Hb), hematocrit (HCt) and reduced glutathione (GSH) levels. Serum was used for determination of iron and lipid profile as well as lipid peroxidation as malondialdehyde (MDA). The liver was used for determination of iron and copper concentrations. Results: The present results indicated that Fe-deficiency caused many adverse effects reflected the significant decrease of Hb, HCt, serum iron, liver iron, GSH and high density lipoprotein-cholesterol (HDL-C). Fe-deficiency also caused significant increase in total iron binding capacity (TIBC), liver copper, MDA, triacylglycerols (TG) and total cholesterol (TC). In contrary, administration of ferrous sulphate (FeSO4), soybean or thyme induced a significant increase of serum and liver iron profile. Conclusion: Soybean and thyme could able to provide iron to correct dietary irondeficiency anemia and powerful antioxidant effect of soybean or thyme was reflected on marked decrease of MDA and increase of GSH and HDL-C.