The precise control of browning and enhancement of Maillard reaction kinetics to improve the surface functionality and nutrient encapsulation efficiency of soy proteins remains a significant challenge. This research presents an ultrasound-assisted cyclic reaction method (1-7 cycles) to synthesize soy protein isolate/dextran (SPI/D) conjugates with enhanced grafting degree and functionality during the Maillard reaction. The technique significantly increased the grafting degree to 65.92 % by the seventh cycle, with minimal browning. Structural analysis showed tighter secondary and more relaxed tertiary structures, leading to a diminished exposure of hydrophobic moieties and an enhancement in solubility, emulsification, foaming, and antioxidant capacity. These functional improvements notably bolstered the SPI/D conjugates' ability to encapsulate anthocyanins (ANs). Particularly, after seven cycles, SPI/D demonstrated a marked enhancement in the thermal, storage, and light stability of ANs. Additionally, it reduced the susceptibility of ANs to degradation by hydrogen peroxide, Fe 3+ ions, and gastrointestinal simulated digestion (p < 0.05), which was attributed to their relatively higher hydrophobic residues, hydrogen bonds, and hydrophobic interactions. This strategy provides new insights into soy protein design, highlighting the potential to augment surface functionality and nutrient encapsulate efficiency by controlling the browning degree and enhancing Maillard reaction kinetics., Competing Interests: Declaration of competing interest The authors declare the following financial interests/personal relationships which may be considered as potential competing interests: Fang Wang reports financial support was provided by the Sichuan Science and Technology Program (2024NSFSC0370). Guowei Deng reports financial support was provided by Key Laboratory of Functional Molecules Structure Optimization and Application in Sichuan Province Colleges and Universities 2024 Project(GNFZ202403). Jiarui Ye reports financial support was provided by the Undergraduate Innovation and Entrepreneurship Training Program funded by the Ministry of Education (S202314389078). Fang Wang reports financial support was provided by the Demonstration Program on Civic and Political Science for Food Quality and Safety Courses (XJKCSZZY2015). Congdi Chen reports financial support was provided by the Chengdu Normal University 2023 Young Teacher Support Program for University-Level Scientific Research Projects (CS23QN04). Reports a relationship with that includes:. Has patent pending to. If there are other authors, they declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2025. Published by Elsevier B.V.)