Poly(glycolide-co-caprolactone) (A)-poly(ethylene glycol) (B) ABA-type triblock copolymers (PGCE) were synthesized by bulk ring opening polymerization, using the hydroxyl endgroups of poly(ethylene glycol) (PEG) as initiator and stannous octoate as catalyst. The resulting copolymers were characterized by various analytical techniques. Gel permeation chromatographic analysis indicated that the polymerization product was free of residual monomers, PEG and oligomers. H-1 NMR and differential scanning calorimeter results demonstrated that the copolymers had a structure of poly(glycolide-co-caprolactone) (PGC) chains chemically attached to PEG segments. All the PGCE copolymers showed improved hydrophilicity in comparison with the corresponding PGC copolymers with the same molar ratio of glycolidyl and caproyl units. The microspheres of PGCE copolymer exhibited rough surfaces quite different from the smooth surface of PGC microspheres. This phenomenon was attentively ascribed to the highly swollen ability of PGCE copolymers and the freeze-drying process in the microspheres fabrication.