In order to obtain polymer/surfactant compound flooding system with good performance，the amphoteric surfactant was synthesized by cardanol，epichlorohydrin and catalyst tetrabutyl ammonium bromide. The structure of the product was characterized by infrared spectrometer. The effect of the dosage of polyacrylamide and surfactant on the oil-water interfacial tension and emulsifying property was studied. Experimental results showed that the product had the structural characteristics of cardanol betaine surfactant. The oil-water interfacial tension was 10^-4—10^-3 mN/m when the concentration of surfactant was low（0.5—3.0 g/L）. The equilibrium interfacial tension of flooding system increased with increasing concentration of polymer，and the amount of surfactant had little influence on equilibrium interfacial tension. When the mass concentration of surfactant was 0.3—0.8 g/L and that of polymer was 0.5 g/L，the equilibrium interfacial tension of binary system could achieve 10^-6—10^-5 mN/m. The emulsification property of polymer/surfactant compound flooding system was good. With the increase of surfactant concentration，the time for removing moisture of binary system extended（200—1000 s）. Compounding surfactant with polymer could lower the oil-water interfacial tension and improve the emulsion stability.