We constructed a sodium alginate/soy protein isolate/chitosan gel system and incorporated silver nanoparticles reduced by capsaicin into the system, forming a sodium alginate–soy protein isolate–chitosan–capsaicin–silver nanoparticle composite gel (SA/SPI/CTS/CAP/Ag). In tests, the SA/SPI/CTS/CAP/Ag gel exhibited excellent antimicrobial properties. Using the agar diffusion method, the inhibition zone diameter for Staphylococcus aureus was determined to be 29.5 mm. Soy protein isolate (SPI), containing a large number of hydrophobic amino acid residues, effectively enhanced the moisture retention capability of the gel and improved its stability to a certain extent at an appropriate addition concentration. In a milk preservation experiment, the SA/SPI/CTS/CAP/Ag gel significantly extended the shelf-life of the milk. In dye adsorption experiments, the adsorption curve of the SA/SPI/CTS/CAP/Ag gel well fitted a pseudo-second-order kinetic model. It showed a degree of adsorption capacity for methylene blue, malachite green, methyl orange, and Congo red, with the most significant adsorption effect for malachite green being 42.48 mg/g. Considering its outstanding antimicrobial performance, preservation ability, and adsorption capacity, the SA/SPI/CTS/CAP/Ag gel holds significant potential in wastewater treatment and as an antimicrobial gel in the exploration of food preservation.