A soy based, ready-to-eat, low-fat, high protein snack food and a process for its manufacture prepared by blending in a ribbon blender full-fat soy flour (5-20%), bengal gram flour (24-40%), rice flour (18-20%), chili powder (0.5-0.7%), and baking powder (0.25-0.35%) to obtain a dry mix, which, in turn, is mixed with water (25-30%) in a Hobart mixer to form a dough which is extruded into a desired shape and thickness and baked for 15-60 minutes at a temperature range of 165-190.degree. C. to finally obtain a product having a protein content of (24-25%) and a fat content of (10-11.5%).