According to the invention, there is provided a novel soybean variety designated XB38E06. This invention thus relates to the seeds of soybean variety XB38E06, to the plants of soybean XB38E06 to plant parts of soybean variety XB38E06 and to methods for producing a soybean plant produced by crossing plants of the soybean variety XB38E06 with another soybean plant, using XB38E06 as either the male or the female parent.