The disclosed is a biodegradable copolymer, an amphiphilic diblock copolymer, composed of a hydrophilic segment and a hydrophobic segment. The hydrophilic segment is an endcapped PEG or derivatives thereof. The hydrophilic segment is a random polymer polymerized of lactone or cyclic C3-C6 molecule and lactic acid/glycolic acid. There is no coupling agent between the hydrophilic and hydrophobic segments, and the biodegradable copolymer is formed by one-pot ring-opening polymerization. The biodegradable copolymer can be dissolved in water to form a thermosensitive material having a phase transfer temperature of 25 to 50° C., thereby being applied to biological activity factor delivery, tissue engineering, cell culture and biological glue.