The fluorescence spectra of the ethanol-water mixture excited by 236nm UV-light and the polarization of the fluorescence are investigated respectively. With different polarization degree of an incident light, the fluorescence was collected between 300nm　and 400nm both in horizontal and vertical polarization direction. The experimental result shows that the fluorescence, emitted from the ethanol-water solution when excited by linearly polarized light, is a polarized light and its polarization degree is calculated too. By analyzing theoretically, the Stokes vector of the fluorescence polarization condition has been obtained, and the polarization condition is testified. By calculating Mueller matrix of the solution, the orientation characteristic of ethanol-water cluster molecules has been analyzed. The research can contribute to the study of the new molecule clusters of ethanol-water.