The phase transition behavior of a thermotropic liquid crystalline poly(aryl ether ketone) synthesized by nucleophilic substitution reactions of 4,4'-biphenol (BP), and chlorohydroquinone (CH) with 1,4-bis(4-fluorobenzoyl)benzene (BF) has been investigated by differential scanning calorimetry (DSC) and wide angle X-ray diffraction (WAXD). The copolymer exhibits multiple first order phase transitions, which are associated with crystal-to-smectic liquid crystal transition and smectic liquid crystal-to-isotropic transition. When the cooling rate is low (<10C/min), only stable crystal from I is formed. With the cooling rate being high (>20 degreesC/min), the metastable crystal form II is formed, which always coexists with form I. The liquid crystalline phase plays an important role in the formation of metastable phase form II.