The present study is aimed at developing an enzymatic/acid-catalyzed hybrid process for biodiesel production using soybean oil as feedstock. In the enzymatic hydrolysis, 88% of the oil taken initially was hydrolyzed by binary immobilized lipase after 5 h under optimal conditions. The hydrolysate was further used in acid-catalyzed esterification for biodiesel production and the effects of temperature, catalyst concentration, feedstock to methanol molar ratio, and reaction time on biodiesel conversion were investigated. By using a feedstock to methanol molar ratio of 1:15 and a sulfuric acid concentration of 2.5%, a biodiesel conversion of 99% was obtained after 12 h of reaction at 50 °C. The biodiesel produced by this process met the American Society for Testing and Materials (ASTM) standard. This hybrid process may open a way for biodiesel production using unrefined and used oil as feedstock.