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Selection criteria is very crucial to pick up promising genotypes in a breeding program. An experiment was conducted with twenty soybean genotypes following a randomized complete block design to study the inheritable agronomic traits, their interrelation and partitioning of genotypic correlation into direct and indirect effects to identify the traits responsible for higher seed yield. Results indicated that phenotypic variance was higher than that of genotypic variance for all the characters. The highest PCV was found for the trait seed yield per plant (39.03%) followed by yield per plot (32.85%). The higher GCV was also found for the same traits-seed yield per plant (37.36%), yield per plot (27.23%). PCV and GCV was the lowest for trait days to maturity (6.28%, 4.16%) and days to flowering (3.20%, 2.24%). Estimated broad sense heritability was ranged from days to flowering (44.05%) to seed yield per plant (91.62%). Higher estimate of heritability was also observed for yield per plot (88.65%) followed by hundred seed weight (85.39%) whereas; heritability was moderate for plant height (76.75%) and pod per plant (70.17%). The genetic advance was the highest for plant height (19.39%). On the other hand, primary branch per plant, days to flowering and days to maturity showed low heritability with low GA depicts the influence of non-additive gene effect. Pod per plant, hundred seed weight, days to maturity and plant height is positively and significantly correlated with yield. Pod per plant (0.908) and hundred seed weight (0.907) showed highest direct positive effect on seed yield at genotypic level. Path analysis also confirmed highest positive direct effect of hundred seed weight (0.701). So, the present study suggests that, higher hundred seed weight and pod per plant can be effective selection measure for improvement of soybean yield. [ABSTRACT FROM AUTHOR]