Summary: The high‐molecular‐weight functional polyacetylene that contain a para‐aminoazobenzene chromophore, poly[2‐{N‐Methyl‐N‐(4‐(4‐ethynylphenylazo)phenyl)amino}ethyl butyrate] [poly(EAPAB)], was synthesized in moderate yield and characterized by FT‐IR, 1H NMR, UV‐vis, TGA, and GPC. The nonlinear optical and optical limiting properties were performed with 8 ns pulse width at 532 nm wavelength. The results show that the introduction of the flexible amino group effectively improved the solubility of polymer [poly(EAPAB)] in common organic solvent, such as CHCl3, THF, and dioxane, while poly(4‐ethynylazobenzene) [poly(4EAB)] without the flexible amino group shows poor solubility in common organic solvent. Simultaneously, poly(EAPAB) still shows good thermal stability, large third‐order nonlinear optical property, and novel optical limiting property owing to the functionalization of the para‐aminoazobenzene chromophore.