The invention relates to the field of profile control and water plugging in oilfields, and discloses a polymer with performances of profile control and water plugging, a preparation method and applications thereof, wherein the polymer contains, by weight, 60-98 wt% of a structural unit A, 1-39 wt% of a structural unit B and 1-39 wt% of a structural unit C, the structural unit A comprises an acrylamide monomer, the structural unit B comprises an acrylic acid monomer, the structural unit C comprises a monomer having a structure represented by a formula (1), and in the formula (1), R1, R2 and R3are respectively and independently H, C1-C12 alkyl, and C6-C12 substituted or unsubstituted aryl, and R4 is C1-C12 alkyl, C6-C12 substituted or unsubstituted cycloalkyl, and C6-C12 substituted or unsubstituted aryl.