Field experiments were conducted at the Teaching and Research Farm, Ladoke, Akintola University of Technology in Nigeria for the evaluation of soybean performance on the soil amended separately or in combination with cassava peel compost (CPC) and inorganic fertilizer applied. The experimental design was a randomized complete block design with three replicates. Soybean growth parameters and yield were examined. Data collected were subjected to analysis of variance and significant means compared using New Duncan Multiple Range Test (DMRT) at 5% probability level. Soybean growth parameters and crop physiological indices were significantly influenced by applied treatments. Combined application of NPK and CPC performed better than sole inorganic fertilizer application. The stem height and girth, number of leaves per plant and leaf area (46.08 cm2) were all significantly (P<0.05) influenced by the treatments. The highest leaf area was obtained with 50 kg NPK/ha+3.5 t/ha CPC, while the least (22.04 cm2) was observed from control. The physiological indices of soybean were significantly influenced by applied treatments. Application of 100 kg NPK/ha+2.5 t/ha CPC gave highest net assimilation rate. It was concluded that combined application of 100 kg NPK/ha+2.5 t/ha CPC was sufficient for optimum growth and yield of soybean based on the condition of the soil used in the Southern guinea Savannah of Nigeria.