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To draw something out of something else through immersion in some substance. A noun or pronoun can be used between "soak" and "out." You want to leave the ham in water overnight to help soak some of the salt out of the meat. If you drop your phone in water, you can soak out some of the damaging moisture by stuffing it into a jar of dry rice. I'm trying to soak this red wine stain of my dress before the party on the weekend.
To remove something, such as a stain, by continued immersion: She threw her shirt in a tub of water to soak out the pasta sauce before it set. The ink stain looked permanent, but he tried to soak it out anyway.