Soybean is the most traded agricultural commodity in the world and the main agricultural product exported by Brazil. The study was conducted in Midwest region of Brazil, during the 2018/2019 harvest. The conventional pest management carried out by the rural producer and the integrated pest management with biological control carried out by the MS Foundation were compared. After data collection, operational costs were calculated for both managements and subsequently an environmental cost and a cost-benefit analysis of the application of chemical pesticides were performed. An adapted model of environmental cost and cost-benefit analysis was used. The results show the economic viability of adopting biological control in one of the tested areas. This was due to the greater amount of pesticide applications by the farmer in conventional management, showing the importance of analyzing the environmental cost of the pesticides and avoiding products that have a high impact on non-target individuals.