The effects of polymerization conditions and components of D and C on molecular weight of polybutadiene were studied respectively. The molecular weight of polybutadiene changed with polymerization conditions in a narrow range by Ni-Al-B catalyst system. The changing range of molecular weight of polybutadiene was widen largely by the addition of D component into Ni-Al-B catalyst. With the increase of C component the molecular weight of polybutadiene obtained decreased.