To achieve precise structural control of neutral macromolecular bonding agents and enhance their performance, a novel monomer cyanoethyl acrylate (CEA) was designed and synthesized. Through free radical copolymerization with hydroxyethyl acrylate (HEA), a new type of neutral macromolecular bonding agent was prepared. The structures of monomers and polymer products were characterized by Fourier transform infrared spectroscopy (FTIR) and nuclear magnetic resonance (NMR), with hydroxyl value and glass transition temperature (T_g) determined. The bonding agent was applied to NEPE high-energy propellant formulations to investigate its effects on processing and mechanical properties. Results demonstrated that CEA and HEA exhibited matched polymerization reactivity, enabling the production of structurally homogeneous copolymers without requiring controlled feeding. This bonding agent reduced the yield value and apparent viscosity of propellant slurry, improving processing performance. Moreover, the propellant grains achieved tensile strength of 0.98 MPa and maximum elongation of 70.1% at ambient temperature, representing 22.5% and 27.3% improvements respectively compared to conventional neutral bonding agent systems.