In this article, the effect of dust charge fluctuations on the parametric upconversion of a lower hybrid wave into an ion cyclotron wave and a side band wave in a two-ion species tokamak plasma is studied. When the oscillatory velocity of plasma electrons is a few percent of the sound velocity, the lower hybrid wave becomes unstable and decays into two modes: an ion cyclotron wave mode and a low frequency lower hybrid side band wave. Furthermore, a ponderomotive force by a lower hybrid pump and a side band wave is exerted on the existing electrons, which drives the ion cyclotron decay mode. The presence of negatively charged dust grains and their shape, size, radius, and density influence the instability. The growth rate of instability is calculated by considering typical existing D–T (Deuterium–Tritium) dusty plasma parameters, and it is observed that the growth rate increases with the relative density of dust grains, number density of dust grains, oscillatory velocity of electrons, and amplitude of pump waves. However, the normalized growth rate increases with the unstable wave frequency, and it also increases as we increase the ratio of deuterium to tritium density. Here, the growth rate decreases with the increase in the size of dust grains and electron cyclotron frequency. The theoretical results summarized in the present study are able to efficiently elaborate the complexity produced in plasma properties in a tokamak due to the dust–plasma interactions, which are briefly discussed here.