Development of oral phosphorus binding agent with desirable biocompatibility and stability is full of significance in the treatment of chronic kidney disease. In this study, a natural product, cellulose, was selected as the substrate agent in which the -OH groups are able to chelate with Ce(IV) to generate the radicals and thereby initiate the surface grafting polymerization. Following this way, allylamine-grafted cellulose was prepared (ALE-CLS) under mild environment with high grafting ratio (160.2%) and desirable phosphorus binding capacities (23.3 mg/g). The phosphorus binding capacity increases with the rise of grafting ratio. The degradation tests give the result that the product possesses a good stability in acid environment and oxidation environment, suggesting a good stability in gastrointestinal tract. The in vivo experiment is also conducted to reveal the effect on reducing the serum phosphate levels in healthy rats and rats with hyperphosphatemia. The prepared ALE-CLS shows a much lower swelling ratio than that of RenaGel (R) (0.25 vs 3.69), which may serve as a good candidate as oral phosphorus binding agent with less gastrointestinal discomfort.