Vinyl-endblocked polyurethanes were prepared from polyether diols(N210), isophorone diisocyanate (IPDI), dimethylol propionic acid (DMPA) and 2-hydroxyethyl acrylate (HEA). The core-shell structure acrylic-polyurethane composite emulsion was prepared by seeded emulsion polymerization of methyl methacrylate (MMA) and butyl acrylate (BA) using the polyurethanes emulsions as seeded emulsions. The core and shell regions were occupied by acrylic polymer and polyurethane, respectively. Because polyurethanes were vinyl-endblocked, acrylic monomers could graft partially to them. The formation of core-shell structure was observed by transmission electron microscopy (TEM). The structure and properties of dried film were studied by Fourier-transform infrared spectroscopy (FT-IR) and TGA.