In order to reduce the viscosity of heavy oil, the performance of emulsifying viscosity reducers is limited. In this study, a new kind of amphiphilic low molecular weight viscosity reducer was prepared by emulsion copolymerization of acrylamide (AM), acrylic acid (AA), 2-acrylamido-2-methylpropanesulfonic acid (AMPS), and Butene benzene (PB). The synthesis feasibility and viscosity reduction mechanism of viscosity reducer in heavy oil were explored using Materials Studio software from the perspective of molecular dynamics. The results of the molecular dynamics simulation revealed that the addition of viscosity reducer into heavy oil varied the potential energy, non-potential energy, density and hydrogen bond distribution of heavy oil. Benefiting from its structure, the benzene ring in PB was well embedded in the interlayer structure of asphaltene, contributing to weaken the network structure of the heavy oil. Moreover, the two strong polar groups (COO− and SO3−) of AA and AMPS, which constituted the branched chains of the viscosity reducer’s molecular structure, gradually disassembled the network structure from the ‘inward’ to the ‘outward’ of the heavy oil network structure, thereby driving heavy oil viscosity reduction (as clarified by molecular dynamics). Owing to its temperature resistance, this kind of new amphiphilic low molecular copolymer could be an effective viscosity reducer for heavy oil cold recovery at elevated temperatures.