The special properties of rare earth/polymer composite were described. More emph asis was put on the radiation shielding and magnetic properties. In the applicat ion to X-ray shielding, rare earth/polymer composite can make up the feeble abs o rbing area. If the rare earth content is high enough, it can demonstrate strong ability for thermal neutron absorption; The composite has strong paramagnetism. The feasibility of preparing magnetic rare earth/polymer composite was discussed . In addition, three preparation methods were introduced: simple polymerization, mixing and reaction processing. The effect of the rare earth/polymer composites pre -sturcture and the coordinate number of rare earth ions on the light property w as a nalyzed. Rare earth/polymer composite may have the structure and property simlar to those of the ionomer. The feasibility of the in-situ preparation of the rare earth/polymer nano structure is indicated. Besides, the relationship betwe en structure and properties of the rare earth/polymer composite was discussed. T he problems associated with such composite materials were also presented.