The application of black phosphorus in optoelectronic devices is hindered because of its inherent band gap characteristics. In the paper, black phosphorus was prepared by high-energy ball milling, and its related structure and properties were characterized. At the same time, the luminescence mechanism of black phosphorus was explored, and the effect of ultrasonic time on the structure and optical properties of black phosphorus was studied. The luminescence peak of black phosphorus can be modulated to the visible light range after adding polyethylene glycol, and the luminescence of black phosphorus is closely related to the P (020) and P (021). It was found that the luminescence intensity of alcoholized black phosphorus decreases with the increase of ultrasonic time. When the ultrasonic time is 15min, the luminescence intensity of alcoholized black phosphorus decreases greatly, this is because that the content of P (020) in black phosphorus decreases with the increase of ultrasonic time, resulting in the decrease of luminescence intensity.