In polymer flooding, the residual polymer in the produced fluid can increase the stability of crude oil emulsion, thereby negatively affecting the demulsification process. Therefore, a polymer that has no effect on the stability of crude oil emulsion is required. Herein, a polymerizable monomer with a demulsification function (MD) was synthesized and then copolymerized with acrylamide, acrylic acid, and 2‐acrylamide‐2‐methylpropane sulfonic acid to prepare a novel copolymer (self‐demulsifying polymer, PDM). The dissolution time, solution viscosity, shear resistance, static adsorption on quartz sand, and the effect on the crude oil emulsion stability of PDM were compared with those of regular polyacrylamide (PAM). Experimental results showed that owing to the steric hindrance effect of MD, the molecular weight of PDM was lower than that of PAM. Both polymers exhibited satisfactory solubility, solution viscosity, shear resistance, and static adsorption, which can meet the requirements of polymer for use in oil displacement. However, in contrast to PAM, PDM had no negative effect on the crude oil emulsion stability. This study provides a new solution to the problem of increased crude oil emulsion stability in polymer flooding.