The invention discloses amphiphilic copolymer dispersant, a preparation method and application.Firstly, a water-alcohol solution is configured, chain transfer and polyvinyl alcohol is added for preheating, then initiator, methacrylic acid, iso-octyl acrylate and a functional monomer are added, after a reaction is conducted, neutralization reagent with the carboxyl carboxyl being 80-100% is added, then pressure reduction, distillation and alcohol removal are conducted, and after pH is adjusted, liquid dispersant is obtained; the liquid dispersant is dried, and solid dispersant is obtained; the functional monomer is hydroxyethyl acrylate or sodium ethylenesulphonate or combination of the hydroxyethyl acrylate and the sodium ethylenesulphonate, and the functional monomer is composed of, by mass, 20-80 parts of methacrylic acid, 10-50 parts of iso-octyl acrylate, 10-40 parts of hydroxyethyl acrylate and 10-20 parts of sodium ethylenesulphonate.According to the preparation method, a water-alcohol system is adopted, distilled and recovered solvent can be directly used without being processed, emission of waste water, waste gas and solid waste is avoided, and the production cost is lowered.The dispersant prepared from the method is good in dispersing agent, and suspension percentage can reach 98.5%.