In an effort to control dust pollution in open-air environments such as pit coal mines and coal transportation systems, a new dust suppressant with a cross-linked network structure was prepared. Graft copolymerization of soy protein isolate (SPI) and methacrylic acid (MAA), using potassium persulfate (KPS) as the initiator and hexametaphosphoric acid (SHMP) as the cross-linking agent, formed the network structure. The optimal MAA/SPI mass ratio for the dust suppressant was determined through a single-factor experiment to be 3:4, with 0.8 and 0.2 g of SHMP and KPS, respectively. The grafting reaction required 30 min at 60 °C. Scanning electron microscopy, energy-dispersive x-ray spectroscopy, Fourier-transform infrared spectroscopy, and differential scanning calorimetry were used to characterize the structure and application performance of the dust suppressant. The experimental results showed that the graft copolymerization reaction successfully formed the desired cross-linked network, and that when the cross-linked network material was sprayed on coal dust, it formed a dense, solidified shell, which effectively resisted wind erosion and served as a dust suppressant. The average reduction of the total suspended particulate matter of an open-air coal pile reached 79.95%, demonstrating effective dust suppression.