What Is Soy Wax? Soy wax comes from soybean oil that has been hydrogenated to create a solid wax. Unlike paraffin wax, which is made from petroleum, soy wax is plant-based and renewable. It breaks down naturally over time, making it an eco-friendly choice. Because soy wax is free from petroleum by-products, it tends to burn cleaner and produce less soot. This makes it a gentler option for indoor air quality, especially in homes with pets and children who may be more sensitive