The invention provides an amphiphilic polymer and application thereof. The amphiphilic polymer has the following repetition structure units: a structure unit for adjusting the molecular weight, the molecular weight distribution and charge characteristic functions, a high steric hindrance structure unit and an amphiphilic structure unit, is applicable to the fields such as oilfield drilling, well cementing, fracturing, crude oil gathering and transporting, sewage disposing, sludge disposing, papermaking and the like and can serve as an enhanced oil recovery oil displacement agent, a thick oil viscosity breaking agent, a fracturing fluid, a clay stabilizer, a sewage disposing agent, a retention/filter agent for papermaking or a reinforcing agent.