A synthesis method of polyurethane ionomers (PUIs) and anionic/nonionic polyurethane dispersions (PUDs) is introduced in this article. PUIs were synthesized in twin‐screw extruder without organic solvent. PUIs were then dissolved in acetone and dispersed in water. The PUDs were obtained after distilling off acetone and the solid content of PUDs was about 55% and had excellent stability. PUDs obtained were mainly used as adhesives. PUIs were synthesized from poly(1,4‐butylene adipate glycol) (PBA) as soft segments, 1,4‐butanediol (BDO) and diphenylmethane diisocyanate‐50 (MDI‐50) as hard segments, poly(ethylene glycol) methyl ether (MPEG) and polyether diol‐containing sulfonate (SPPG) as hydrophilic monomers, and dibutyltin dilaurate (DBTDL) as catalyst. The particle size, viscosity, and adhesive properties of the PUDs were measured and the results indicated that PUDs obtained have excellent stability and adhesive properties, such as the maximum initial peel strength and T‐peel strength were 2.38 and 11.82 N mm−1, respectively. The thermal properties, tensile stress–strain, and water resistance of the PUIs films were also characterized. The test results showed that films have good thermal properties and water resistance properties, and some typical characteristics of crystalline polymers were revealed in the tensile stress–strain curves. © 2019 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2019, 136, 47719.