Few-shot learning (FSL) aims to develop a learning model with the ability to generalize to new classes using a few support samples. For transductive FSL tasks, prototype learning and label propagation methods are commonly employed. Prototype methods generally first learn the representative prototypes from the support set and then determine the labels of queries based on the metric between query samples and prototypes. Label propagation methods try to propagate the labels of support samples on the constructed graph encoding the relationships between both support and query samples. This paper aims to integrate these two principles together and develop an efficient and robust transductive FSL approach, termed Prototype-based Soft-label Propagation (PSLP). Specifically, we first estimate the soft-label presentation for each query sample by leveraging prototypes. Then, we conduct soft-label propagation on our learned query-support graph. Both steps are conducted progressively to boost their respective performance. Moreover, to learn effective prototypes for soft-label estimation as well as the desirable query-support graph for soft-label propagation, we design a new joint message passing scheme to learn sample presentation and relational graph jointly. Our PSLP method is parameter-free and can be implemented very efficiently. On four popular datasets, our method achieves competitive results on both balanced and imbalanced settings compared to the state-of-the-art methods. The code will be released upon acceptance.