A type of solvent-free waterborne polyurethane dispersion was prepared using isophorone diisocyanate (IPDI), polytetrahydrofuran glycol (PTMG), dimethylol propionic acid (DMPA) as materials by prepolymer method. The effects of NCO/OH molar ratio (R value), the amount of DMPA, neutralization degree and chain extender on properties of emulsion and flim was discussed. The results showed that with R value of 1.7,DMPA amount of 5.5%,neutralization degree of 100% and chain extender of 80%,the properties of emulsion and flim was optimal. The diisocyanate was added in two steps this method changed Concentration and Molecular Weight of prepolymer and avoided the use of some organic solvent. The product was more environmentally friendly and safe.