A series of novel 1.0 generation (1.0G) hyperbranched macromolecules bridged salicylaldimine cobalt complexes were synthesized in high yields. The compounds were characterized by fourier transform infrared (FT-IR) spectroscopy, ultraviolet (UV) visible spectroscopy, electrospray ionization mass spectrometry (ESI–MS), elemental analysis and thermal gravimetric analysis (TGA), as well as were investigated as precatalysts for the oligomerization of ethylene. Upon activation with methylaluminoxane (MAO) and diethylaluminumchloride (DEAC), the cobalt precatalysts showed moderate catalytic activities in the range of 105 g/(mol Co h) in ethylene reactivity with the high selectivity for the butenes and high carbon number olefins products. The correlation between cobalt complexes and their catalytic activities and product distribution were investigated in detail under various reaction parameters. The research results showed that the catalytic activities of precatalysts increased with the increase of ethylene pressure and Al/Co molar ratio; however, the catalytic activities firstly increased and then decreased with the increase of reaction temperature. The highest activity of 2.54 × 105 g/(mol Co h) and 50.18% selectivity of high number carbon olefins was obtained under the reaction temperature of 25 °C, ethylene pressure of 0.5 MPa, and Al/Co molar ratio of 1500. In addition, the nature of solvent and co-catalyst, as well as the structure of precatalysts, significantly affected both the activity and the product distribution of the resultant catalysts.