In this paper, a new D-A copolymer, PFDBCPDT, which consists of benzo-2,1,3-thiadiazole as acceptor units and cyclopentadithiophene and fluorene as donor units, was synthesized. The thermal, electrochemical, photophysical and photovoltaic properties of PFDBCPDT were studied. PFDBCPDT showed a low optical band gap of 1.84 eV, and relatively low HOMO level of 5.69 eV. The best device performance was obtained by PFDBCPDT/PC61 BM (1:3) with 0.5 vol% DIO. The device exhibited a power conversion efficiency of 3.06%, with a relatively high open circuit voltage of 0.87 eV.