The performance of microwave-assisted fluidized bed drying of soybeans was simulated (using a previously validated mathematical model) and analyzed based on the first- and second law of thermodynamics. The energy and exergy analysis were carried out for several drying conditions. The effects of inlet air temperature, microwave power density, bed thickness and inlet air velocity on the efficiencies and inefficiencies of drying process have been simulated and discussed. Generally, application of microwave energy during fluidized bed drying enhanced the exergy efficiency of drying process. However, the results showed that it was more efficient not to apply microwave energy at the first stage of fluidized bed drying process. The application of higher levels of drying air temperature led in higher exergy efficiencies. The values of mean relative deviations for the predictions of efficiencies and inefficiencies of drying process were less than 14%, compared with those calculated using experimental data. (C) 2013 Elsevier Ltd. All rights reserved.