The ethanol and ester-soluble polyurethane for ink binder was synthesized from polyester glycol (PBA、PEDA) and self-made chain extenders gradually addition react with toluene-2,4-diisocyanate (TDI). The chemical structure of the product was characterized with FTIR. The mass ratio of PBA to PEDA which affects polyurethane property was studied. The results reveal that when the mass ratio of PBA to PEDA is 1,the solid weight is 32.47%, and the polyurethane shows up better adhesion and stability.