A novel dual-function coumarin based fluorescent probe was prepared from 4-(diethylamino)salicylaldehyde with methyl hydrazinecarboxylate, and its structure was characterized by NMR, FTIR, and HRMS. Fluorescence emission spectra showed that in methanol solution, within 30 seconds, probe L formed a 1∶1 complex L-Cu2+ with Cu2+ which caused a fluorescence quenching effect with a quenching rate of 100%. It had good specificity for Cu2+ and could resist the interference of metal ions such as Ba2+, Li+, Cu+, Al3+, Zn2+, Cs2+, Mn2+, Ca2+, Hg2+, Cd2+, K+, Mg2+, Na+, Co2+, Ag+, Fe3+ and Cr2+. And the detection limit was as low as 1.70×10-8mol/L with high sensitivity. Meanwhile, based on the ligand substitution principle, complex L-Cu2+ could be used as a fluorescence sensor to achieve fluorescence-enhanced response recognition of PO. The process with good selectivity, could resist the interference of common anions (NO, CO, SO, HPO, P2O,Br-, F-, HCO, SO, C2O, Cl- and CH3COO-), and the detection limit was as low as 6.00×10-8mol/L. In addition, probe L was successfully applied in the fields of pharmaceutical chemistry and chemical environmental protection with excellent experimental results.