The midfielder is back in-form after a slow start to the season, scoring three goals in his last three LaLiga outings to help Real beat Getafe 2-0.
Bellingham stepped up to convert the penalty ahead of usual taker Kylian Mbappe, who missed earlier in the week against Liverpool in the Champions League.
Vinicius Jr usually is the secondary taker, but the Brazilian is currently out with a hamstring injury.
That left the unfazed Bellingham to face Soria from 12 yards out in what was his first penalty for Real since January.
A deep breath and a hop unsettled the goalkeeper who went too early and Bellingham slotted the ball narrowly left of Soria - before pointing to his eyes at the shot-stopper to show he was watching his movement.
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The England international was not done there as he brilliantly combined with Mbappe to double the score.
Bellingham beautifully controlled a lofted pass into midfield and his next touch was a defence cutting pass to a speeding Mbappe who curled home a long range shot in off the post.
After his move from Borussia Dortmund to Los Blancos last year, Bellingham had high hopes placed on him.
And Real Madrid could not be more happy with how his first season went as Bellingham scored 23 goals.
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He was an integral part of their LaLiga and Champions League winning campaign, which saw him touted as a contender to win the Ballon d'Or.
But this season has led to a change in roles for Bellingham, often playing deeper to accommodate for the system change Mbappe's arrival in Madrid has led to.
A barrier he has had to overcome alongside England international criticism that made him feel like the 'scapegoat'.
Carlo Ancelotti's side has endured a turbulent season as they currently sit 24th in the new look Champions League standings, but their fortunes continue to better as they close down Barcelona in the league.
Following the 2-0 defeat to Liverpool, Bellingham shared on Instagram: "Always one step forward and two steps back at the moment.
"Really disappointing performance and result despite the brilliant opponent. Must thank and apologise to all the Madridistas that followed us in England.
"No point dwelling on what we can no longer change, we have to remain together and push each other in this next important stretch of games. Hala Madrid Siempre."
A composed attitude after defeat - exactly what was needed for their bounce back win against Getafe, which leaves Madrid one point behind Barca.