The soybean aphid (SBA; Aphis glycines Matsumura) and the soybean cyst nematode (SCN; Heterodera glycines Ichninohe) are major pests of the soybean (Glycine max (L.) Merr.). Independent studies on these pests have made substantial progress in understanding the genetic basis of limiting these pests in both model and non-model plant systems. Classical linkage mapping and genome-wide association studies (GWAS) have identified some major and minor QTLs in soybean. The studies on interactions of aphid and nematode effectors with host proteins allow us to identify molecular cues in various signaling components, including plant disease resistance and phytohormone genes. Here we review various resistance components of both SBA and SCN in terms of their effectors, their role in eliciting or attenuating host defense and update on findings on key quantitative trait loci (QTLs)/genes in soybean that could help in mitigating these widespread shifted virulent soybean aphid and SCN populations. We also provide an update on recent interaction studies of soybean-soybean aphid-SCN as well as interaction studies involving different aphids/nematodes and their host systems. PHYTOALEXIN DEFICIENT4 (PAD4) in soybean could possibly play a major role in providing resistance against both soybean aphid and SCN.