The hyperbranched poly(amido amine) nanoparticles (HPAMAM NPs) with multiple functions, such as biodegradability, autofluorescence, and specific affinity, were successfully prepared by Michael addition dispersion polymerization of CBA, AEPZ, and N-galactosamine hydrochloride (or N-glucosamine hydrochloride) in a mixture of methanol/water. The resultant NPs displayed strong photoluminescence, high photostability, broad absorption, and emission (from 430 to 620 nm) spectra. The fluorescence from HPAMAM NPs may be attributed to the tertiary amine chromophore. The incubation results of the liver cancer cells, HepG2, with the NPs showed that the NPs are nontoxic and can be recognized by asialoglycoprotein receptors on the surface of HepG2 and then can be internalized. Therefore, they have potential applications in bioimaging and drug or gene delivery.