Soybean, [Glycine max (L). Merrill], is one of the more important crops grown throughout the world. It typically produces about 400 g kg^-1 protein and 200 g kg^-1 oil on a dry weight basis. Its oil and protein concentrations provide a vast array of products in our everyday lives from fuel, lubricants, to many foods. Breeders use estimates of heritability and selection intensities to provide genetic gain for this crop. The objective of this study was to estimate heritabilities for seed yield, protein, and oil concentration from a population of 239 F5 derived recombinant inbred lines, which are the result from the cross of 5601T × U99-310255. The study was conducted over two locations, the Highland Rim Research and Education Center at Springfield, TN and the East Tennessee Research and Education Center at Knoxville, TN. Seed protein and oil concentration were analyzed via whole-bean near infrared spectroscopy. The MIXED procedure of SAS produced estimates for the genotype variance, genotype by environment interaction variance, and error terms utilized to calculate the heritability estimates. The population mean was 1,960 kg ha^-1 for seed yield, 439 g kg^-1 for seed protein concentration, and 213 g kg^-1 for seed oil concentration.   Heritability estimates on an entry mean basis were 0.36, 0.87, and 0.74 for seed yield, protein, and oil concentration, respectively. These estimates can then be used to allow a breeder to determine the appropriate selection strategy for improving soybean.