Sanxan (SAN) is a novel microbial polysaccharide that is both safe and edible and represents a promising new source of food resources. It exhibits gelling properties and certain emulsifying properties. To date, there have been few studies published on the enhancement of protein emulsification by sanxan. In this study, three widely used proteins were used: casein (CS), pea protein isolate (PPI), and soy protein isolate (SPI). SAN–protein composite particles were prepared by non-covalent interactions to evaluate the availability of SAN in Pickering emulsions. The effect of SAN on the ability of the complexes to stabilize the emulsion was investigated by measuring and characterizing the physicochemical properties of three SAN–protein complexes. Fourier transform infrared (FTIR) and fluorescence spectroscopy analyses showed that SAN was able to bind to three proteins to form complexes. All three complexes formed by SAN with SPI, PPI and CS had good emulsification properties, with PPI-SAN being the best. Storage results showed better stability of the composite particle-stabilized emulsion. These results indicate that the complexation of SAN with proteins improves the emulsification of proteins and increases the stability of Pickering emulsions. The findings of this study provide valuable information for the utilization of SAN in emulsions.