The steady state and time resolved fluorescence spectrum of ethanol-water solution has been studied. The three different emission bands located at 290 nm, 305 nm and 330 nm,respectively, and the three corresponding excitation lights with the absorption peaks of 265 nm,280 nm and 236 nm have been measured respectively by the fluorescent spectra and the excitation spectra. The decay process of fluorescence intensity was detected and the curve was fitted by an exponential function. The lifetime parameters of different fluorescent photons were obtained by the numerical analysis procedure of deconvolutions. The characteristic of the steady state spectra and the three different lifetimes confirm the fact that there are three clusters in ethanol-water solution.