The most prominent contradiction in ensuring food security of China lies in feed grain and the effective supply of protein feed is the key to satisfy people's demand for consumption of livestock and poultry products. This study focused on the strategic requirements of ensuring food security and achieving sustainable protein supply, and analyzed the utilization status of protein feed resources and summarized the major problems in protein feed supply. Based on the protein feed resources in China and the potential of protein supply in the international market, this article analyzed the potential for substituting soybean meal in our country. It is expected that by 2035 the soybean imports will have reduced 58.8 million tons compared with 2020 by expanding the planting, increasing the income of oil crops, developing new feed resources, utilizing conventional protein feed resources, efficiently, optimizing the planting structure of forage crops, as well as improving the efficiency of livestock and poultry protein conversion. It is suggested that future efforts should be focused on tapping potentials and expanding resources, strengthening scientific and technological support, also carrying out appropriate import by imptementing major projects such as increasing crop and forage production, improving quality and efficiency of unconventional protein feed resources, and developing new protein feed resources. In addition, financial support should be increased and the international market effectively exploited, in order to promote soybean meal substitution and ensure national food security.