The invention relates to a functional copolymer directly prepared from higher olefin mixture and a preparation method, and belongs to the field of application of petroleum resources. The preparation method includes: under the condition of nitrogen protection, adding one or more of MAH (maleic anhydride), maleimide and derivatives thereof and itaconic anhydride as well as oil soluble free radical initiator into selected solvent to be fully dissolved, then adding one or more of C8 and C9 fraction and light fraction of coal tar into the system to be mixed evenly, performing reaction at the temperature of 60-120 DEG C, and after reaction is finished, performing separating and drying to obtain the functional copolymer formed by copolymerization of olefin components and maleic anhydride in the mixture. C8 and C9 fraction and light fraction of coal tar are taken raw materials directly to be subjected to one-step reaction for preparing the copolymer comprising functional radicals, the process is simple, reaction conditions are mild, preparation efficiency is high, the prepared copolymer and non-polymerization components are easy to separate, the copolymer is high in functional radical content, and resources of C8 and C9 fraction and light fraction of coal tar can be utilized reasonably and effectively.