A study was carried out in National Agriculture Research Centre, Islamabad during autumn 2004 and 2005 to determine the variability and association among 9 traits in 139 soybean genotypes. The traits viz., days to maturity, plant height at maturity, number of branches per plant, number of pods per plant, 100-seed weight (g), oil content, grain yield per plant (g), biological yield per plant (g) and harvest index were studied. Results of analysis of variance showed significant differences among genotypes in terms of traits under study, which indicate the existence of genetic variation. Correlation coefficient indicated that the grain yield was positively and significantly correlated with all studied traits except plant height, which showed non-significant association during both years. Oil content showed significant and positive correlation with grain yield, 100-seed weight, and harvest index while significantly negative correlation were observed with days to maturity, plant height and number of branches per plant. Significantly positive correlations were observed for: days to maturity and plant height and number of branches per plant; number of branches per plant and number of pods per plant; number of pods per plant and biological yield per plant and harvest index; 100-seed weight and oil content; harvest index and 100-seed weight and biological yield per plant. Results obtained from this study can make better choice for soybean breeders for selecting genotypes among large number of accessions.