Soybean protein adhesives are environmentally friendly biomass-based aldehyde-free adhesives that have good economic value for the wood industry; however, it remains challenging to produce soybean protein adhesives with excellent water resistance, toughness, and mildew resistance through a simple modification method. In this work, inspired by plant polyphenols, a novel crosslinked soybean meal adhesive (SMPT) is obtained using a facile economic method. Polyamidoamine-epichlorohydrin (PAE) and tannic acid (TA) are combined with a soybean meal matrix to form a tough co-crosslinked network through strong intermolecular forces (covalent bonds, ionic bonds, and hydrogen bonds) in adhesive system. The results show that the wet bonding strength of SMPT adhesives for plywood is 134.1% higher than the unmodified soybean meal adhesive. The adhesion properties met the standard requirements for interior-use plywood. And the compact cross-linking network structure is accelerated the greater energy dissipation, which improves the toughness of adhesive. Moreover, cationic azetidinium groups in PAE and phenol hydroxyl groups in TA synergistically not only exhibit the good antibacterial activities but also improve mildew resistance for SMPT adhesives. This facile strategy provides an economic sustainable method to prepare high-performance environmentally friendly wood adhesives.