Novel superabsorbent polymers (SAPs) were synthesized by performing aqueous solution graft copolymerization of potato starch xanthate and partially hydrolyzed acrylamide using N,N′-methylene-bis-acrylamide as a crosslinker and potassium persulfate as an oxidant at 35–45°C. Various factors that influence the water absorption of SAPs were studied in detail, and the optimum formulation ratio was determined via orthogonal experiments. Several spectroscopic techniques, including scanning electron microscopy, Fourier transform infrared spectroscopy, thermogravimetric analysis, and transmission electron microscopy, were used to determine the structure of the SAPs. In addition, adsorption experiments were carried out with various heavy metal ions, including divalent copper ions, zinc ions, nickel ions, cobalt ions, cadmium ions, and lead ions. Experiments showed that the prepared SAP has a high adsorption performance (>48 mg·g−1). Thus, these materials are expected to have important applications in the removal of heavy metal ions and the separation of dyes in aquatic environments.