The atom transfer radical polymerization (ATRP) technique has been successfully applied to synthesize a series of nonlinear optically (NLO) active homopolymers, 4‐(4‐nitrophenyl‐diazenyl) phenyl acrylate (P‐NPAPA) and 4‐(4‐methoxyphenyl‐diazenyl) phenyl acrylate (P‐MPAPA), containing azobenzene groups on the side chain. The third‐order NLO properties of the polymer films were measured by the degenerated four‐wave mixing (DFWM) technique. A dependence of the χ(3) values and response times of polymers on their number‐average molecular weight and the electronic effect of the substituent (nitro‐ or methoxy‐) on the azobenzene group have been evidenced. The increasing χ(3) value of the polymer films at the magnitude of about 10−10 was displayed with increasing molecular weight and the presence of the push‐pull electronic system contributes much in enhancing the third‐order NLO susceptibility of polymers.