This invention provides a novel graft polymer that has excellent proton conductivity, is capable of regulating hydrogen permeability, methanol permeability, and the like, and can serve as a starting material for a polymer electrolyte membrane, which facilitates moisture balance control and efficient operation of a fuel cell. A polymer electrolyte membrane composed of such graft polymer is also provided. This graft polymer comprises a main chain comprising a hydroxyl group-containing polymer and a graft chain comprising a polymer containing a sulfonic acid group-containing monomer.