Dajiang, a traditional Chinese condiment, is made from fermented soybeans. It is highly popular among consumers as a result of its delicious umami flavor, which mainly originates from umami peptides. To examine the mechanism of umami taste in Dajiang, we selected Dajiang samples with strong umami taste and subjected them to purification and identification analysis using ethanol precipitation, gel chromatography, reversed-phase high-performance liquid chromatography, and ultraperformance liquid chromatography-tandem mass spectrometry. Subsequently, on the basis of toxicity and umami prediction analysis, we screened, synthesized, and characterized three novel bean umami peptides in Dajiang: TLGGPTTL, 758.4174 Da; GALEQILQ, 870.4811 Da; and HSISDLQ, 911.4713 Da. Their sensory threshold values were 0.25, 0.40, and 0.17 mmol/L, respectively. Furthermore, molecular docking results showed that hydrogen-bonding and hydrophobic interactions are important interaction forces in the binding of umami peptide to taste receptors. Ser147 and Glu148 of the T1R3 taste receptor are important amino acid residues for binding of the three umami peptides. This study uncovers the mechanism of umami-peptide-driven flavor in fermented soybean products.