Shape memory polyurethane (SMPU), grafted with a fluorescent dye (Rhodamine, Mehylene violet, or Fluorescein) through an allophanate linking, was tested for the fluorescence and the shape recovery effect. The main chain of SMPU was composed of 4,4'-methylenebis(phenylisocyanate) (MDI), poly(tetramethyleneglycol) (PTMG), and 1,4-butanediol (BD), and a fluorescent dye was connected through a second MDI linked to the carbamate moiety of the main chain. Three series of SMPU, differing according to their dye content, were prepared to compare their shape recovery and fluorescence properties. In tensile mechanical property, maximum stress increased up to 350% compared to the linear SMPU, and strain remained above 2000%. Shape recovery went to as high as 97%, and remained almost same after repetitive shape recovery test cycles. Finally, the fluorescence emission of SMPU was demonstrated in the luminescence spectrum and fluorescent light emission pictures. In addition, the response of SMPU to external stimuli such as metal ions was investigated.