The term SoC stands for system-on-a-chip. Unlike the x86 architecture, where the processor and the various peripheral controllers are on different chips (North-bridge, south-bridge, etc.), SoCs integrated these onto a single chip.

Wikipedia <<FootNote(http://en.wikipedia.org/wiki/System-on-a-chip)>> defines it as thus:
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System-on-a-chip or system on chip (SoC or SOC) refers to integrating all components of a computer  or other electronic system into a single integrated circuit (chip). It may contain digital, analog, mixed-signal, and often radio-frequency functions – all on a single chip substrate. A typical application is in the area of embedded systems.
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