A series of sulfonated waterborne polyurethane-based dyes (DB60-SWPUs) with covalently bonded to different proportions of Disperse blue 60 (DB60) were prepared by a modified acetone process. The expected structures of DB60-SWPUs are characterized by Fourier transform infrared spectroscopy and 1 H-NMR spectra. The obtained DB60-SWPUs show high viscosity and intriguing storage stability. The fluorescent performances, thermal properties, and mechanical properties of DB60-SWPUs were characterized. Compared with DB60, the UV-vis spectra of DB60-WPUs have obvious hypochromic shift, and the fluorescence intensities are obviously enhanced. The migration rates of DB60-SWPUs are much lower than that of DB60. DB60-SWPUs have thermal migration resistance and excellent color fastness. The polyester fiber dyed by DB60-SWPUs has not only high color yield, good fracture strength, excellent breaking strength retention, but also good permeability and wrinkle resistance. Moreover, DB60-SWPUs are polymeric dyes with water as a solvent, which are especially suitable for environmental protection.