The invention relates to a pH/reduction dual sensitive hydrophilic copolymer drug carrier as well as a synthesis method and application thereof. S,S'-bis(alpha, alpha'-dimethyl-alpha''-acetic acid) trithiocarbonate is taken as a chain transfer agent, RAFT (reversible additive fragment transfer) polymerization is carried out on N-t-butyloxycarboryl propylene hydrazine, N-(3-dimethylamine propyl) methacrylamide and N-hydroxymethyl acrylamide in two steps, reaction is carried out on hydroxyl on N-hydroxymethyl acrylamide and methoxyl polyethylene glycol at an isocyanic acid esterification end, polyethylene glycol is connected by virtue of a disulfide bond, and the target product, namely pH/reduction dual sensitive hydrophilic copolymer drug carrier, is obtained after a protecting group is removed. The pH/reduction dual sensitive hydrophilic copolymer drug carrier can load adriamycin and a gene drug at the same time; meanwhile, a hydrophilic polyethylene glycol shell can protect gene substance, long circulation is realized, a disulfide bond connected with polyethylene glycol is beneficial to escape of endosome of drug-carrier, the copolymer after being loaded with a drug can be self assembled into nanomicelle in water, bioavailability of the drug can be improved, and toxic and side effects can be reduced. The copolymer synthesis method provided by the invention has the advantages that molecular weight of each segment and quantity of polyethylene glycol segments can be flexibly adjusted and reaction conditions are mild.