Carbon black particles possess dimensions on the nanometer or sub-nanometer scale. When utilized, these particles have a tendency to aggregate, which compromises their stability under storage conditions. To address this issue, a dispersant was prepared using cotton short fibers as raw materials through etherification and graft polymerization with acrylamide (AM) and 2-acrylamido-2-methylpropane sulfonic acid (AMPS) as raw materials. The dispersant was then used to disperse carbon black to test its dispersing performance. A response surface optimization test was utilized to ascertain the influence of AMPS monomer mass, AM monomer mass, and potassium persulfate (KPS) initiator mass on the dispersibility of carbon black during dispersant preparation, and a set of optimal preparation conditions were obtained. The dispersion stability of carbon black in water was assessed using Fourier transform infrared spectroscopy (FTIR), X-ray diffraction (XRD), elemental analysis (EA), thermogravimetric analysis (TG), zeta potential analysis, high magnification scanning electron microscopy (SEM), and contact angle measurements. Results revealed that the optimum mass ratio of carboxymethyl cellulose (CMC) to AMPS to AM was 1:0.69:1.67, with the KPS initiator comprising 1.56% of the total monomer mass. By incorporating the dispersant at a concentration of 37.50%, the particle size of carbon black particles was observed to decrease from 5.350 μm to 0.255 μm, and no agglomeration of carbon black particles occurred even after 3 weeks of storage.