Through the radical polymerization, IA/AA/AMPS terpolymer coal-water slurry (CWS) dispersant was prepared by acrylic acid (AA), itaconic acid (IA), 2-acrylamide-2-methylc sulfonic acid (AMPS), using water as solvent, potassium sulfate and sodium sulfite as the redox initiation system and sodium hypophosphite as chain transfer agent. Also, the slurry properties of the dispersant were investigated through IR, rheometer. The results showed sulfonic group and carboxylic acid group were successfully introduced into copolymer;The results showed that the optimal dispersant effect appeared when concentration of coal-water slurry was 68% and adding amount of was 0.6% of the total amount of monomers.