Abstract: In order to study on the quality changes of soybean whey beverage during fermentation and storage, the fermentation kinetics, stability kinetics and thermodynamic models were constructed. Soybean whey beverage was fermented by adding fructooligosaccharides, wort, maltose and hop with soybean whey as the main raw materials. The total number of microorganisms, reducing sugar and total acid in the fermentation process of soybean whey beverage were measured every 2 h. The classical Logistic and Luedeking-pirret models were used for nonlinear fitting to construct the fermentation kinetics model of soybean whey beverage. The soybean whey beverages were stored at different temperatures（25, 35 and 45 ℃）. The samples were taken every 5 d to analyze the variation of centrifugal sedimentation rate, total acid, color difference, viscosity, pH and sensory score during storage. The Arrhenius equation was used to establish the stability dynamics and thermodynamic model of soybean whey beverages. The results showed that the microbial growth in the fermentation process was S-type, the formation of total acid and the growth of bacteria were part-coupling. The Pearson correlations of the constructed models were 0.989, 0.978 and 0.983, indicating that the experimental values were highly fitted to the model values. During storage, with the extension of time, the centrifugal sedimentation rate, color difference, viscosity showed an increasing trend, and sensory score showed a decreasing trend. Based on the centrifugal sedimentation rate, color difference value, viscosity and sensory evaluation correlation coefficient（R~2＞0.9）, the kinetic and thermodynamic models of centrifugal sedimentation rate, color difference, viscosity, sensory score and temperature were established. The average error CV of centrifugal sedimentation rate, color difference and viscosity prediction models were 4.93%, 9.24% and 7.64%, respectively. Fermentation kinetics, stability dynamics and thermodynamics model can be used to predict the fermentation and storage stability of soybean whey beverage.