Soybeans [Glycine max (L.) Merrill] have great economic prominence in the world, and soil management systems can directly interfere with their yield through changes in soil physical-hydric properties. Thus, the aim of this research was to verify the relationship between yield components, physiological traits, root development, and soil physical-hydric properties in soybean yields grown under conventional tillage and no-tillage systems. The experiment was carried out in Botucatu, SP, Brazil, with two treatments: soybeans grown under conventional tillage and no tillage. It is a long-term experiment, conducted since 1986. The main variables that influenced soybean yield were plant height, relative leaf water content, root dry matter, soil penetration resistance, and soil accumulated water infiltration. Physiological components of the plant and soil water showed a significant and negative correlation with soybean yield. On the other hand, the root development and soil physical components were positively correlated with soybean yield. However, the yield components were not significant. The no-tillage system resulted in 7.8% more soybean productivity compared to conventional tillage. Soybean yield depends on the physical properties and the water storage capacity of the soil, as well as on the physiological traits and the root development of the plant.