Aiming to further improve the dust suppression performance of the dust suppressant, the present study independently develops a new type of biodegradable environmentally-friendly dust suppressant. Specifically, the naturally occurring biodegradable soybean protein isolate (SPI) is selected as the main material, which is subject to an anionic surfactant, i.e., sodium dodecyl sulfonate (SDS) for modification with the presence of additives including carboxymethylcellulose sodium and methanesiliconic acid sodium. As a result, the SDS-SPI cementing dust suppressant is produced. The present study experimentally tests solutions with eight different dust suppressant concentrations under the same experimental condition, so as to evaluate their dust suppression performances. Key metrics considered include water retention capability, cementing power and dust suppression efficiency. The optimal concentration of dust suppressant solution is determined by collectively comparing these metrics. The experiments indicate that the optimal dust suppressant concentration is 3%, at which level the newly developed environmentally-friendly dust suppressant solution exhibits a decent dust suppression characteristic, with the water retention power reaching its peak level, and the corresponding viscosity being 12.96 mPa·s. This performance can generally meet the requirements imposed by coal mines. The peak efficiency of dust suppression can reach 92.13%. Fourier transform infrared spectroscopy (FTIR) and scanning electron microscopy (SEM) were used to analyze the dust suppression mechanism of the developed dust suppressant. It was observed that a dense hardened shell formed on the surface of the pulverized coal particles sprayed with the dust suppressant. There is strong cementation between coal dust particles, and the cementation effect is better. This can effectively inhibit the re-entrainment of coal dust and reduce environmental pollution.