Amphiphilic graft copolymer of polystyrene (PS) as backbone and poly(ethylene oxide) (PEO) as branch chain was prepared by Decker-Forster reaction. PEO with Schiff's base end group (PEO,) was obtained by ring-opening polymerization of ethylene oxide (EO) initiated with protected potassium aminoethoxide, and then alkylated with chloromethylated polystyrene (c-PS). A graft copolymer with high grafting efficiency was derived by hydrolysis of the above-mentioned product.