1, 2, 3, 4-Erythrityl tetranitrate(ETN) was prepared by using erythritol as raw material and the fuming nitric acid and concentrated sulfuric acid as nitrating agent and catalyst, respectively. It was characterized by optical microscope, scanning electron microscope (SEM), X-Ray diffraction (XRD), differential scanning calorimetry (DSC) and sensitivity tests. Results show that ETN is random lamelliform and has an endothermic peak (melt) and a broadening exothermic peak in thermal decomposition and its activation energy is 187.05 kJ·mol^-1. The theoretical calculation shows the formation heat is 506.9 kJ·mol^-1, and detonation velocity is 8467.3 m·s^-1, and detonation heat is 8492 J·g^-1, and detonation pressure is 34.5 GPa. The H₅₀ of ETN is 18.1 cm, the frictional explosive percent is 68% and the 5 s explosive point is 208.86 ℃, which is more sensitivity than PETN.