In summary, the hot grinding process with accurate temperature control used in our laboratory was effective in reducing soy odor. Cold grinding also exhibited an advantage over ambient grinding. In addition, the two-phase UHT with vacuum evaporation could effectively remove the selected volatiles to a large extent due to the use of vacuum twice that helped remove not only water but also volatile compounds in the product. As expected, proper combinations of grinding and heating methods are desirable to tackle the soy odor problem. It should be noted that in the meantime, cold and hot grinding could reduce the protein recovery and solid yield. In addition, other properties of soymilk might be affected by various treatments, such as isoflavone profile, trypsin inhibitor activity, and antioxidant capacity. Comprehensive assessment of these treatments is conducive to processing optimization. In most cases, it was more difficult to reduce soy odor in black soymilk than in yellow soymilk. Even if the combination of hot grinding and two-phase UHT treatments was used, it was not possible to make some odor compounds below their extremely low sensory threshold level. Autooxidation of polyunsaturated fatty acids is a significant factor for consideration in the design of processes to reduce soy odor in soymilk. Future studies should be done to assess the functional (sensory and other) properties of soymilk as affected by different methods of processing, particularly for improving the quality of black soymilk.