Poly(methyl methacrylate/ethyl acrylate/acrylic acid) hydrosols were prepared by employing soap-freepolymerization, and (acrylic acid/butyl acrylate) oligomer was used as the polymeric surfactant. The effect of reactioncondition on the morphology and particle size of the hydrosols was investigated. The minimum amount of acrylic acid in thehydrosols is 2%. The maximum weight average molecular weight (Mw) of polymer that assures soap-free emulsionconversion into hydrosol is about 1.2 × 105-1.3 × 105. The particle transforming process was investigated, and an obviouschange of particle diameter and morphology was observed.