This is a study of concept on the initial application for wood adhesives totally biosourced from the covalent reaction between soy protein isolate (SPI) and a commercial flavonoid tannin, namely quebracho tannin. The adhesive is composed exclusively of the two vegetable biomaterials mentioned and thus is totally biosourced and non-toxic, as tannin has been classified as being not at all toxic by the European Commission REACH program. The pre-reaction between the two yielded the best plywood bonding results when limited to a temperature of 40 °C, final cross-linking being achieved during the plywood higher temperature hot pressing procedure, as for any other thermosetting adhesive. Pre-reaction at higher temperatures, namely 60 °C and 80 °C, achieved extensive premature cross-linking that lost any activity to cross-link further when hot pressed for preparing plywood. The reaction was followed by thermomechanical analysis, by matrix assisted laser desorption ionization time of flight (MALDI ToF) mass spectrometry, and by plywood shear strength tested dry, after a 24 h cold water soak and 1 h in boiling water. The adhesive of this approach lends itself to be further reinforced by the multitude of approaches on soy resins already developed by several other research groups.