The aim of the present work was to produce a new soy milk-based cake. Soy milk was added at different percentages (0, 25, 50, 75, and 100%) during cake making to replace milk. Nutritional composition, batter characteristics, physical, and sensory properties, as well as the stability of cake during storage, were investigated. Sensory results indicated that cake with 50% soy milk had the most favourable acceptance scores with the highest score in the aroma, colour, and taste attributes. The addition of soy milk up to 50% produced a cake with higher protein content and lower carbohydrate content, along with lower density and higher specific volume compared to control. Cake with 50% soy milk addition had lower microbial counts as compared to control. Therefore, soy milk has the potential to act as a milk replacer in cake production.