ABSTRACT Abiotic stresses severely constrain soybean productivity worldwide. Here we demonstrate that gmeif2b5 (eukaryotic initiation factors) mutants confer dual stress tolerance through coordinated mechanisms. Integrative RNA‐Seq and protein interaction analyses revealed that gmeif2b5 mutants increase lignin deposition to increase drought resilience and balanced Na + /K + homeostasis to enhance salt tolerance; GmeIF2B5 physically interacts with GmPRX4, a plant heme peroxidase; GmPRX4 overexpression increases drought and salt resistance in soybean; GmeIF2B5 plays the predominant role in the GmeIF2B5‐GmPRX4 module, and double mutants exhibiting synergistic stress tolerance improvements. Our work uncovers a ‘GmeIF2B5‐GmPRX4 regulatory axis’ that: mobilises lignin‐based structural fortification for enhanced drought resistance and orchestrates ionic equilibrium for increased salt tolerance. This study pioneers the role of eIF2B genes in soybean stress adaptation, establishing a multi‐tiered regulatory node for precision molecular design of stress‐resilient crops.