A pseudo-metabolic cycle as a self-degradation system was designed: enzymatic degradation products from a polysaccharide generate oxidants which introduce a cationic charge into the polysaccharide chains, and can form a polyion complex with an anionic polysaccharide. As a component of such a system, dextran, with various degrees of nicotinamide substitution, was prepared. Its degradation by dextranase, redox reaction via glucose oxidase-catalysis, and polyion complex formation with carboxymetyl dextran (CMD) were examined. Nicotinamide-modified dextran (NA-Dex) with nine nicotinamide moieties per 100 glucose units was soluble in PBS and completely oxidized by > 100 mM H2O2. The oxidized type of NA-Dex was found to form a 1:1 complex with CMD. By the addition of dextranase, isomaltase, and glucose oxidase (GOD) to phosphate buffer solution of the reduced type of NA-Dex and CMD, the transmittance of the solution dropped, suggesting polyion complex formation via the oxidation of 1,4-dihydronicotinamide in NA-Dex by H2O2 generated from GOD-catalytic reaction. These findings are of great importance for designing a self-complex formation system aimed at biodegradable and osillative drug release.