Soybean-based adhesive has been commercialized in the wood industry owing to its several advantages, such as no formaldehyde, good bonding properties, and renewability. However, the large-scale application of soybean-based adhesive is greatly limited by its significantly higher cost than urea-formaldehyde resin. Thus, in this study, a cost-effective polyamidoamine-epichlorohydrin (PAE) resin with improved crosslinking efficiency to soybean meal was prepared from branched polyamidoamine (PAA) with reduced dehydration time at high temperatures. Test results from GPC, FTIR and NMR analyses showed that traditional PAA synthesis involving 3-h dehydration time at 180 °C resulted in over-branching of PAA resin and poor crosslinking efficiency of PAE resin and decreased water resistance of obtained soybean-based adhesive. PAA resin synthesized at appropriate dehydration time (1 h) remained sufficient secondary amine groups for being grafted by epichlorohydrin to form effective PAE resin with more azetidinium groups. As a result, the water resistance of soybean-based adhesive crosslinked by the optimal PAE-1 resin prepared from 1 h-dehydrated PAA-1 significantly improved by 42.9 % compared with that of soybean-based adhesive crosslinked by traditional PAE resin, attributing to forming denser and stronger crosslinking networks after thermally cured. Consequently, this optimal PAE-1 could reduce the cost of soybean-based adhesive due to decreasing 16.7 wt% of PAE dosage without compromising bonding property and the energy consumption of PAA/PAE synthesis. Therefore, an appropriate decrease in the dehydration time of PAA resin at a high temperature provides an effective, economical, and energy-saving strategy to improve the bonding property of soybean-based adhesives.