A branched degradable polyethylene glycol derivative with a high molecular weight that does not cause vacuolation of cells is provided. A branched degradable polyethylene glycol derivative represented by the following formula (1), containing, in a molecule, an oligopeptide that is degraded in the cells: wherein k1 and k2 are each independently 1-12, j1 and j2 are each independently 45-950, R is a hydrogen atom, a substituted or unsubstituted alkyl group having 1-12 carbon atoms, a substituted aryl group, an aralkyl group or a heteroalkyl group, Z is an oligopeptide that is degraded by enzyme in the cells, X is a functional group capable of reacting with a bio-related substance, and L1 and L2 are each independently a single bond or a divalent spacer.