The importance of agricultural technology in enhancing the welfares of farmers can be realized when yield gain from the technologies results in meaningful income gain. This article aimed to assess economic impact of improved soybean (Bellessa-95) variety on income among farm households in Bambasi District, BGRS. In this study a multi-stage stratified sampling technique was employed to select rural kebeles and households. Three rural kebeles were selected randomly. Structured interview schedule was developed, pre-tested and used for collecting the essential quantitative data for the study from 134 randomly selected households. Descriptive statistics and propensity score machining (PSM) models were employed to analyze data. Results of descriptive analysis showed that there were statistically significant differences between adopter and non-adopter households with distance to market, livestock ownership, and frequency of extension visit, farm income as well as number of oxen owned. Consistent with the findings of previous studies, regression results showed that adoption of improved soybean has a positive and significant effect on farm income by which adopters are better-off than non-adopters. Based on results obtained it is recommended to continuous training in improved soybean production. Promoting farmers to form or join cooperatives. Strengthening demonstration centers and Farmers Training Centers (FTC). Transaction costs should be reduced and scaling up and diffusion of improved soybean varieties in the study area should be broadened.