Novel water-soluble amphiphilic ternary graft copolymers(COS-g-PCL-b-MPEG) were synthesized by N,N′-dicyclohexyl carbodiimide(DCC) coupling reaction between chitooligosaccharide(COS) with MPEG-b-PCL-COOH,which was synthesized via ring-opening polymerization of ε-caprolactone(CL) with methoxy poly(ethylene glycol)(MPEG) as an initiator and subsequent carboxylation by succinic anhydride.The che-mical composition of the graft copolymers was studied by 1H NMR spectrum.In aqueous solutions,stable supramolecular hydrogels could be rapidly fabricated via the inclusion compound between the MPEG-b-PCL graft of COS derivates and α-CD.The supramolecular structure of the hydrogels was revealed by WXRD analysis.The temperature sweep test results show that no gel-sol transition temperature appears over the range from 20 ℃ to 60 ℃ for the obtained hydrogels.