The particle size of disperse fluorescent dye paste was characterized by the Nano-particle size analyzer. The effects of divalent alcohol on viscosity, surface tension, moisture retention, hot storage stability, centrifugal stability, ink transfer rate and fluorescence reflectance on polyester fabric were also analyzed. The results showed that dye paste particles by the wet grinding method dispersed uniform and the particle size was 125.5nm. When divalent alcohol content was less than 15%, there were few changes in the ink viscosity; when the content was more than 15%, the viscosity increased significantly. Due to the existence of hydrogen bonding, the moisturizing properties of ink samples enhanced with the concentration of divalent alcohol increased, and the moisturizing effect of ethylene glycol was the best. Ink samples added with the 15% divalent alcohol exhibited good hot storage stability and centrifugal stability properties. Divalent alcohol was conducive to enhance the ink transfer rate and fluorescence reflectance of polyester fabric. However, the transfer rate and fluorescent reflectivity also declined as the content of divalent alcohol was excessive.