An interval-valued picture fuzzy set (IVPFS) is one of the generalizations of an interval-valued fuzzy set to handle the uncertainties in the data during analysis. The aim of this paper is to introduce and study new operations of IVPFS, along with its properties, and examples. In addition, we present the notion of the interval-valued picture fuzzy soft set theory and investigated their properties. Several operations on such as subset, equal, complement, inf product, sup product, union, and intersection are defined over the interval-valued picture fuzzy soft set and discussed their basic properties. Furthermore, we construct an algorithm using an interval-valued picture fuzzy soft set to solve the decision-making problems and illustrate its applicability through a numerical example. From the study, we conclude that the proposed approach is viable in order to handle the uncertainties during the decision-making problems.