Waterborne fluoroacylic/polyurethane composite dispersions were prepared by emulsion polymerization. Polyurethane containing hydrophilic groups previously prepared by step growth polymerization and this was dispersed with fluoroalylic monomer and other monomers in water. The structure of the composite were confirmed by using ATR-FTIR. The surface and film properties of the composite were confirmed by using ATR-FTIR. The surface and film properties of the composites were investigated by the measurement of contact angle, surface free energy, DSC, and TGA and these properties were compared with those of physical polymer blends. As the amounts of Perfluoralkyl ethyl accrylate(FA) emulsion was increased from 0 wt% to 20 wt%, the surface energy was dramatically decreased from 37.54 dyne/cm to 14.22 dyne/cm. But little change of the contact angle observed in the amount of the FA emulsion up to 20 wt%. The results showed the abvantages of the composite dispersions over the physical polymer blends.