Acrylic acid (AA) was grafted onto high-density polyethylene (HDPE) by in-situ chlorination graft copolymerization (ISCGC), yielding a graft copolymer composed of chlorinated polyethylene (CPE) as backbone and poly (acrylic acid) (PAA) as branch chains. The reaction process and the preparation of its carboxylated ionomers were studied. The structure of the graft copolymer and the ionomer were characterized by FTIR, gel permeation chromatography (GPC), and degree of grafting (GD). The influence of factors related to the main and side reactions, including the monomer concentration, chlorine contents of the product, and reaction temperature were investigated. Additionally, the effects of these factors on the reaction are described. The aim of the research was to investigate how chlorinated polyethylene grafted with poly (acrylic acid) (CPE-cg-PAA) and its sodium-salt ionomer could be prepared and their relative effect on thermal and mechanical properties.