A series of 1-butene/pentafluorophenylundec-1-ene ester random copolymers were synthesized under the Ziegler–Natta catalyst system. The content of the pentafluorophenyl (PFP) group in the copolymer can reach up to 0.59 mol%. The DSC test found that the PFP groups attached to the PB main chain retard the crystalline transformation of Form II to Form I. Nucleophilic aromatic substitutions of pentafluorophenyl ester occurred with biocompatible poly(ethylene glycol) methyl ether (mPEG) introduced into the side chain of PB under very mild conditions. The results show that not only is the crystallization rate of mPEG functionalized PB increased, but also T_m, T_c, χ_c and the crystalline phase transition rate of Form II to Form I are also enhanced. Among them, mPEG with a M_n of 500 has the best promoting effect. On the other hand, the hydrophilicity of mPEG-functionalized PB is improved, and it is proportional to the chain length of mPEG. However, the experimental results show that the regularity of the PB structure is the determinant of the rate of crystallization and phase transition.