The invention relates to toasted full fat, enzyme active soybean flakes, and method of making same. The inventive flakes are excellent for use in hot and cold cereal compositions including with rolled oats, in soybean flakes-potato flakes compositions for making soy protein enriched mashed potato products, in granola and power bar type compositions, in shake-and-bake type compositions, and in meat analogue veggie-burger type compositions. The inventive toasted full fat, enzyme active soybean flakes are prepared by subjecting full fat, enzyme active soybean flakes made from dehulled soybeans to relatively high heat from dry heated air for a relatively short time while moving on and/or above a moving or vibrating surface. The invention further relates to use of the inventive toasted soybean flakes in soybean flakes-potato flakes compositions, and said compositions per se.