The heat-tolerance and salt-resistance hydrophobically associating water-soluble polymers is successfully synthesized by means of micellar copolymerization. The effects of initiator, solubilization surfactant, hydrophobic monomer and functional monomer content on tackify performance are studied. A preliminary evaluation is done on the heat-tolerance and salt-resistance performance,the long-term stability performance and oil displacement performance. With the increase of the concentration of calcium and magnesium ions in solution, the viscosity retention rates of HAWSP solutions are located in the range of 55%-60%, while the PAM’s rates only vary from 30% to 40%. After aging for 120 days at 90 ℃, the viscosity of HAWSP solution at the concentration of 1 500 mg/L is 15 mPa?s, while the PAM is precipitated after aging for more than 60 days. The experimental results show that the heat-tolerance and saltresistance copolymers have excellent viscous performance, long-term stability and good effect on oil displacement by using complex initiator Y4, surfactant NS, hydrophobic monomer molarity at 1.4-1.6 mol % and functional monomer AMPS-Na content of 15-17.5 wt%。