Copolymerization of sodium acrylamidostearate (NaAAS) and 10-undecen-1-ol (UdOH) was performed in the lamellar liquid crystal (LLC) formed by NaAAS, UdOH, and water. After the polymerization the lamellar structure remained, and the disorder of the lamellar liquid crystal was, to some extent, reduced. Surface tension, small-angle X-ray diffraction, dynamic light scattering, viscosity, and fluorescence methods were used to study the properties of the copolymer. The polymeric surfactant behaves like polyelectrolyte and is more surface active than its precursor, i.e., NaAAS. The polymeric surfactant is capable of forming uni-molecular micelles through coiling of its hydrophobic chains.