Composite emulsion of polyurethane-acrylate(CPUA) was prepared by co-polymerization of waterborne polyurethane with MMA and BA.The effects of initiator type and monomer content on the properties of CPUA emulsion and its film were investigated.The structure of CPUA was characterized by TEM.It was found out that using azo-bis-isobutyronitrile(AIBN) and potassium persulfate(KPS) as composite initiator increased the monomer conversion.The property-tests show that CPUA exhibits the films of excellent mechanical properties and good water-resistance.