The importance of creating eco-friendly and health-conscious materials has become paramount in striving to attain long-term development goals. For the past decades, constant efforts have been made to tackle the issue of formaldehyde release from wood-based panels which, to date, are still mainly produced from unsustainable synthetic adhesives. In the pursuit of sustainable and environmentally responsible adhesive solutions for the wood industry, sodium bisulfate, sodium bisulfite, and sodium nitrite were used under different heat treatment conditions as crosslinkers for canola protein-based bio-adhesive formulations. The developed adhesive formulations showed outstanding mechanical properties, with a viscosity below 4000 mPa/s despite the relatively high solid content, as well as excellent bonding performances. The one-layer particleboards bonded with the canola-based adhesive demonstrated outstanding mechanical properties, with the internal bonding and the bending strength values surpassing 0.60 N/mm2 and 10 N/mm2, respectively. Notably, the sodium nitrite-crosslinked variants exhibited significantly superior performance compared to the UF-bonded control boards. Longer incubation times generally improve bonding strength, with sodium nitrite showing the most pronounced effects. The results of this research showcase not only the possibility of developing a plant protein-based wood adhesive with high solid content, but also the potential superiority of canola protein-based wood adhesives when compared to conventional, synthetic counterparts. These findings offer valuable insights for optimizing bio-based adhesives in wood composite manufacturing, highlighting sodium nitrite as a promising crosslinker for enhancing the adhesive’s performance.