For a well performance drilling fluid, when it operates in deep wells under high temperature, the most important property required is the thermal stability. The drilling fluid properties under high temperature can be controlled by proper selection of viscosity stabilizer, which can capture oxygen to protect polymer agent in the drilling fluid. In this paper a viscosity stabilizer PB-854 is described, which was synthesized by 4-phenoxybutyl bromide, paraformaldehyde, and phloroglucinol using etherification method and condensation reaction. We studied the effect of catalyst dosage, temperature, time, and stirring rate on the synthetic yield. Under this condition: molar ratio of 2-tert-Butylphenol, paraformaldehyde and phloroglucinol of 2:1:2.5, reacting temperature of 100 °C, stirring rate of 100 r min−1, and mass content of catalyst of 15 %, char yield of 5-bromine-3-tert-butyl salicylaldehyde reached 86 %. Under this condition: molar ratio of 5-bromine-3-tert-butyl salicylaldehyde and phloroglucinol of 4, reacting temperature of 60 °C, reacting time of 30 min, volume content of sulphuric acid of 80 %, char yield of the target product viscosity stabilizer PB-854 is 86%. Finally, in this paper, infrared spectroscopy is adopted to analyse the structure of the synthetic product PB-854.The improvement in the stability of drilling fluid was further shown after adding the viscosity stabilizer in the common polymer drilling fluid under high temperature conditions of 120 °C ~ 180 °C. The results show significant change in terms of fluid stability in the presence of this new stabilizer as it provides better stability.