Pycharm to toggle soft wrap in code editor

If you want to permanently enable soft wrap for certain file extensions, it can be configured in Settings > Editor> General. Under the title Soft Wraps, add your required file extension.

The settings can also be accessed by right-click on the line-numbers and selecting Configure Soft Wraps as explained here. Also shown here.

PS: I know it is not what is asked in the question, but this was the first google result when I searched for configuring soft wraps. So, I added the answer here in case anybody else comes looking up for the same.

In the PyCharm keymap if you search for soft you get these results:

I'm sure one of these will be what you are after

There's also another way to accomplish this easily.

View -> Active Editor -> Soft-Wrap

The "View" is in the toolbar of Pycharm (Pycharm, File, Edit, View....)

Right-click the the left side (with line numbering) and choose your soft wrap option: