Abstract: China’s soybean acreage has been declining sharply in recent years and households’ planting enthusiasm was low due to various factors. At the same time, continuously increasing soybean imports led to “unwilling to grow”, “difficult to sell”, and “low return” for soybean growers. In 2004, the central Government created and implemented the target price subsidy policy for soybeans, aiming to promote the supply side structural reform of agriculture. Based on a survey data in Heilongjiang and Inner Mongolia, this paper examined households’ willingness of “grain to soybean production conversion” and identified the possible influencing factors by Analytic Hierarchy Process (AHP) method. Results show that the proportion of the surveyed households willing to plant soybeans was low in 2014, only 18.3%, and the proportion of the surveyed households unwilling to plant soybeans reached 45.1%. The situation changed in 2016: the proportion of the surveyed households willing to plant soybeans increased to 25.1%, and the proportion of the surveyed households unwilling to plant soybeans decreased to 34.3%. This research also identified five most important influencing factors affecting households’ willingness of soybean planting, including yield, price, marketing, soybeans varieties, and the target price subsidy policy on soybeans. Therefore, to increase the enthusiasm of soybean producers, this paper suggests: to increase R&D investment on soybean varieties with high yield and good quality, to optimize the environment of soybean production and trade to realize low cost and high benefit, to regulate soybean planting behaviors by market discipline and the formulation, and to improve the implementation of the target price subsidy policy on soybeans.