Milind is an avid sportsman. He started swimming at age of 6 and he has been an international level swimmer. He started representing Maharashtra from the age of 10 at various age groups before going on to represent his state at senior level where he went on to hold the national swimming championship (senior men's) title for four consecutive years (1984-87) before giving up competitive swimming in 1988. Soman represented India in swimming in the inaugural South Asian Games (then known as South Asian Federation Games) in 1984 held at Kathmandu where he won a Silver medal. In India, he has been a Limca record holder for running 1,500 km in 30 days time, for greenathon and also the ambassador of Pinkathon, India's biggest 'women only' marathon. In 2015, Milind completed the Ironman challenge in 15 hours and 19 minutes , in his first try. The triathlon includes a 3.8-km swim, a 180.2-km cycle ride and 42.2-km run raced in that order without a break which the participants are required to complete within 17 hours to win the title of 'Ironman'. The title 'Ironman' is given to every person who achieves the feat within the given time.

In 2017 he successfully completed the Ultrathon in Florida that required covering a distance of 520 km in 3 days. A 10-kilometre swim and a 148-kilometre bike ride comprised the first day, while the second day involved a 276-kilometre bike ride. On the third and final day of the race, Soman completed an 84-kilometre run. He was the only participant to have completed bare foot.

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