Terpolymers with uniform poly(methyl methacrylate) (PMMA) grafts were prepared by terpolymerization of PMMA macromonomer, butyl acrylate, and acrylic acid in benzene using AIBN as initiator. During terpolymerization the macromonomer polymerizes faster than the monomers at the beginning but slower at the latter stage. The terpolymers were purified by solvent extraction and fractional precipitation. The average grafting number per chain of the terpolymers was determined to be 3–8. Ionomers were obtained by neutralization of the terpolymers with alkali hydroxide or metallic acetate. Dynamic mechanical spectrum of the ionomer shows the existence of two Tg's, which implies the occurence of microphase separation. The ionomer exhibits high damping over a temperature range from −25 to 100°C. Both PMMA grafts and metallic carboxylate content raise the tensile strength of the ionomer and lower the ultimate elongation. The tensile strength of ionomers neutralized with different metallic ions decreases in the following order: Pb2+ > Zn2+ > Na+ > Ca2+ > Mg2+ > K+. The ionomers with uniform PMMA grafts show much better mechanical properties than the terpolymer without neutralization or the ionomer without PMMA grafts.