A new PCBM-like fullerence derivative [6,6]-phenyl-C61-butyric acid isopropyl ester (PCBIP) was designed and synthesized. The structure of PCBIP was characterized by UV-Vis, FT-IR, 1H NMR, 13C NMR, MS and elemental analysis techniques. The LUMO and HOMO level of PCBIP are higher 0.029 eV than PCBM by simulate calculation. The thermal stability of PCBIP was studied by differential thermal analysis (DTA) and thermogravimetric analysis (TG), and the results proved that PCBIP has good thermal stability. We expected that the open-circuit voltage (Voc) and energy conversion efficiency (PCE) of polymer solar cells can be improved when it as the acceptor material.