Conjugated copolymers were obtained by the polymerization of 2, 5-bis (4-bromo-benzene)-1, 3, 4-oxadiazole ( M-I ) and 1, 4-divinyl-2, 5-dibutoxybenzene ( M-II) through Pd-catalyzed Heck reaction. Both monomers and polymer were characterized by NMR, MS, FT-IR, UV, fluorescent spectroscopy, GPC, elemental analysis and thermal analysis. The 1, 3 ,4-oxadiazole unit is a chromophore, having good hole-transporting property and oxygen and heat stability. The polymer can emit very strong green fluorescence. It is expected to be used as polymer materials with electro-optical properties.