A rosin derivative and maleopimaric acid diethanolamide(MAD), was synthesized, characterized by FTIR and1 H NMR, and applied as dispersant for the coal-water slurry(CWS) prepared from Chinese Shenfu coal. The CWS application performance investigation shows that the MAD dispersant has better abilities in reducing CWS viscosity and stabilizing the slurry than a commercial dispersant—sulfonated naphthalene-formaldehyde condensate(SNF). The physicochemical property investigation of the two tested dispersants shows that the adsorption amount of the MAD at coal-water interface is much larger than that of SNF, and the MAD has better wetting property than the SNF on the coal surface. It indicated that the excellent capabilities of MAD are related to the adsorption mode of standing upright on the coal surface. Based on the above, the mechanism of dispersion and stabilization of the CWS prepared from MAD dispersant is presented. The CWS application performance investigation shows that the MAD dispersant (CWS) was prepared from Chinese Shenfu coal. The CWS application was developed by FTIR and 1H NMR, and applied as a dispersant for the coal-water slurry has better abilities in reducing CWS viscosity and stabilizing the slurry than a commercial dispersant-sulfonated naphthalene-formaldehyde condensate (SNF). The physicochemical property investigation of the two tested dispersants that showed the amount of the adsorption of the MAD at coal-water interface is much than that of SNF, and the MAD has better wetting property than the SNF on the coal surface. It indicated that the excellent capabilities of MAD are related to the adsorption mode of standing upright on the coal surface. Based on the above, the mechanism of dispersion and stabilization of the CWS prepared from MAD dispersant is presented.