Maillard reaction products (MRPs) were prepared at high temperatures using soybean protein hydrolysates (SPH) and reducing pentose (xylose and arabinose), hexose (galactose and glucose), and disaccharide (maltose), and their potential as flavoring in plant protein foods was evaluated. The results indicated that, after sugar was involved in the reaction, the unfolding of proteins enabled aromatic amino acid residues to enter a more hydrophobic environment, contributing to the reduction of bitterness in MRPs and formation of caramelization. This effect was partially attributed to the interaction forces, hydrogen bonds and van der Waals forces, that existed between the sugars and SPH involved in Maillard reaction. More basic amino acid residues interacted with pentose during the reaction, which exhibited faster reaction rate and promoted the formation of pyrazines and oxygen containing compounds, thereby contributing to meaty, roasted and caramelized flavors. Trimethyl pyrazine, 3-ethyl-2,5-dimethylpyrazine, 2-methylpyrazine, and 2-heptanone were the most abundant in pentose MRPs, and these volatile compounds were positively correlated with umami and richness. Overall, MRPs prepared with arabinose may serve as a potential meaty flavoring with notable umami, and hexose contributed to the enrichment of nutty flavor profiles, while the MRPs formed by disaccharide exhibited the characteristics of superior fruity aromas. MRPs from different reducing sugar may be used to develop different food ingredients.