In this study, a lignin-based polyacid catalyst was synthesized via two steps to enhance water resistance of urea–formaldehyde (UF) resins. The first steps involved a hydroxymethylation reaction to increase the hydroxyl content in lignin. Then, hydroxymethylated lignins were reacted with maleic anhydride to form maleated lignin-based polyacids. The acid groups were expected to function as acid catalysts to catalyze the curing process of UF resin. In order to elucidate the structural variation, 3-methoxy-4-hydroxyphenylpropane as a typical guaiacol lignin structural unit was used as a model compound to observe the hydroxymethylation and the reaction with maleic anhydride analyzed by 1H and 13C NMR. After the structural analysis of synthesized lignin-based polyacid by FTIR and 13C NMR, it was used to produce UF resin as an adhesive in plywood and medium density fiberboard (MDF) production, respectively. The results showed that when the addition of lignin-based polyacid was 5% in plywood, it could effectively improve the water resistance of UF resins as compared to commercial additive NH4Cl. It also exhibited a lower formaldehyde emission. Like plywood, lignin-based catalysts used in medium density fiberboard production could not only maintain the mechanical properties, but also inhibit the water adsorption of fiberboards.