To suppress the aggregation caused quenching of perylene diimide (PDI) derivatives, and improve photostability of PDI derivatives, a polyvinyl alcohol grafted copolymer (PVA-PDIE) was prepared by transesterification of a perylene imide derivative (PDIE) and polyvinyl alcohol (PVA). PDIE was characterized by H-NMR and HR-MS, and PVA-PDIE was confirmed by IR, water resistance, and control experiments. PVA-PDIE film showed high quantum yield (0.75), and matching emission maxima (620 nm). More importantly, PVA-PDIE film had excellent thermal stability and photostability, high transmittance and light conversion quality. Furthermore, the decomposition temperature of PVA-PDIE film was up to 240 °C, while emission intensity maintained at 95 % and 96 % of the initial value in turn after intensified ultraviolet radiation of 40 h and sunlight radiation of 40 days. Compared with the PVA blank film, photosynthetic photon flux density (PFD) of PVA-PDIE film increased by 25 % and 34 % for red orange light and near-infrared light respectively, and decreased by 39 %, 27 %, and 24 % for ultraviolet light, blue violet light, and yellow-green light in sequence, indicating outstanding light conversion performance. Meanwhile, PVA-PDIE film had excellent transparency.