In this study, with the aim of pursuing environmental friendliness and maintaining the natural structure of pea protein, dry fractionation of pea protein was conducted by milling and subsequent air classification, yielding fine protein-rich fractions (protein fraction) and crude starch-rich fractions (starch fraction). The results showed that the protein content of the protein fraction separated by air classification at a rational speed of 10000 r/min was 54.16%. The storage modulus (G’) of gels from the protein fraction markedly increased compared with those of pea flour and the starch fraction. Furthermore, compared with commercial pea protein obtained by wet fractionation, pea protein obtained by dry fractionation lose no albumin (26 kDa) and had better preserved structure. Additionally, over the pH range of 3–7, the solubility was significantly higher than that of commercial pea protein, being 86% at pH 7. Therefore, this study provides theoretical and technical support for green and highly efficient production of high-quality pea protein with a low degree of denaturation.