Experiment was conducted during 2014 kharif season at Main Agricultural Research Station, Dharwad to investigate the response of soybean (DSb-21) to three levels of nitrogen (20, 40 and 60 kg ha-1), three times of application (basal, 40 and 60 DAS) and two methods of application (soil and foliar). Results revealed that the treatment with soil application of nitrogen @ 30 kg ha-l each at sowing and 40 DAS recorded significantly higher growth parameters, viz., plant height, number of branches per plant, LAI and total dry matter at different phenological stages. Significantly higher seed yield (3287 kg ha-1) and haulm yield (3748 kg ha-1) and harvest index (48%) was recorded under soil application of nitrogen @ 30 kg ha-l each at sowing and 40 DAS. The reason could be higher number of pods (62.2) seeds (183.9) and seed weight per plant (24.2 g) and test weight (13.18 g). This treatment also recorded significantly higher gross returns (` 111631 ha-1), net returns (` 72739 ha-1) and B: C (2.87) as compared to rest of the treatments.