The interaction between the water-soluble anionic fluorescence conjugated polyelectrolytes PPESO3 (poly[2,5-bis(3-sulfonatopropoxy)-1,4-phenylethynylene-alt-1,4-poly(phenylene ethynylene)]) and various surfactants has been studied in aqueous solution by UV-vis absorption spectra and fluorescence spectra. With the addition of surfactants, the aggregations of polymers are broken up. For eliminating the self-quenching effect of the fluorescent polymers, the photoluminescence of PPESO3 is dramatically enhanced. The photoluminescence of PPESO3 can be enhanced 6- to 12-fold with the addition of different surfactants, and at higher concentration of surfactants, the photostability of PPESO3 is also highly increased. A "micelle incorporation model" is proposed to explain the enhancement of photostability. To deeply understand the interaction processes between PPESO3 and surfactants, we systematically studied the fluorescence spectra changes of PPESO3 and the dynamic processes at different CTAB concentrations. All results prove the surfactants can simultaneously enhance the photoluminescence and photostability of water-soluble conjugated polyelectrolytes, and this method is very simple and powerful.