A new luminescent polymer, poly {1,4-phenylene-1,2-ethenediyl-2'-[2"-(4"'-octyloxyphenyl)-(5"-yl)-1",3",4"-oxadiazole]-1,4-phenylene-1,2-ethenediyl-2,5-bis-dodecyloxy-1,4-phenylene-1,2-ethenediyl} (Oxd-PPV), was synthesized by the Heck coupling reaction. Electron withdrawing pendant, conjugated 1,3,4-oxadiazole (Oxd), is on the vinylene unit. The band gap of the polymer figured out from the UV-visible spectrum was 2.23 eV and the polymer film shows bright yellow emission maximum at 552 nm. The electroluminescence (EL) maximum of double layer structured device (ITO/PEDOT:PSS/Oxd-PPV/Al) appeared at 553 nm. Relative PL quantum yield of Oxd-PPV film is 3.6 times higher than that of MEH-PPV film. The HOMO and LUMO energy levels of Oxd-PPV figured out from the cyclic voltammogram and the UV-visible spectrum are -5.32 and -3.09 eV, respectively, so that more balanced hole and electron injection efficiency can be expected compared to MEH-PPV. A double layer EL of Oxd-PPV has an maximum efficiency of 0.15 cd/A and maximum brightness of 464 cd/m(2).