A series of chitosan derivatives were synthesized via, mPEG as hydrophilic group, sebacic acid as hydrophobic groups. Chitosan derivatives were characterized by FTIR, H-1 NMR and XRD. The degree of substitution(DS) was calculated by elemental analysis (EA). Chitosan derivatives were dissolved in double-distilled water to form micelles. The morphology of polymer micelles was measured by transmission electron microscopy(TEM), and the size and distribution of polymer micelles was determined by dynamic light scattering (DLS). The critical aggregation concentration (CAC) was detected by a fluorescence technique using pyrene as a probe. It was found that the CAC was decreased by increasing the DS of acyl group, meanwhile, the size of polymer micelles was decreased.