The purpose is to make for the traditional Network Public Opinion (NPO) analysis methods’ inadequacy in the era of big data and provide a sufficient decision-making basis for managers. Based on the Internet of Things (IoT) and big data, this work applies Natural Language Processing (NLP) to NPO analysis. Additionally, it takes the content of Microblog text format as the main collection target, constructs a big data collection tool, and establishes Long Short-Term Memory (LSTM), Gated Recurrent Unit (GRU), Deep Pyramid Convolutional Neural Network (DPCNN) based on Tensorflow and other deep learning models. It is also improved in combination with the characteristics of the model, and a new model is proposed. Finally, the performance of various models is compared and analyzed through experiments, and the path is proposed for the government to use big data to improve the ability to govern NPO and help social governance. The results show that the improved LSTM model can correctly classify the extracted Microblog text’s emotion by as much as 80.00%. It improves the classification accuracy by nearly two percentage points under the ideal condition. Thus, by adding residual connection and attention mechanism, the model can extract the emotional features in the text better and improve the emotional discrimination ability. The public opinion of online media without effective control will have great security risks to social governance under the big data and IoT. The proposed method is of great help in analyzing NPO through the accurate analysis of Microblog text.