Abstract: The self-emulsifying hydroxyethyl methylacrylate modified waterborne polyurethane (AWPU) emulsion was prepared and mixed with epoxy (EP) emulsion. Infrared, differential scanning calorimetry and thermogravimetry were used to characterize the chemical reaction and thermal properties occurred in the process of sizing of AWPU, EP, AWPU-EP emulsions. The results show that when temperature is below 300℃, the thermal mass loss of AWPU-EP composite emulsion is between those of AWPU and EP emulsion; when temperature is above 350℃, a good thermal property is obtained. The maximum mass loss rate temperature is increased from 312.8℃ of EP emulsion and 321.6℃ of AWPU emulsion to 410.2℃. When gluing carbon fiber with AWPU mass fraction of 20% and 80% in AWPU-EP composite emulsion, carbon fiber will show superior cluster of carbon fiber and its antiwear is better than that with EP emulsion.