A novel C70 fullerene derivative was designed and synthesized by [4+2] cyclic addition reaction between indene derivative (methyl 1H-indene-3-carboxylate) and C70. The absorption and photoluminescence of H120 and its mixed films with different polymer donor materials were investigated, as well as its electrochemical property and electron mobility. It was found that H120 has 0.05 eV higher LUMO level than that of PC(70)BM. Its electron mobility reached 6.32 × 10(-4) cm(2) V(-1) s(-1), which is slightly lower than 9.55 × 10(-4) cm(2) V(-1) s(-1) of PC(70)BM. The photovoltaic devices based on P3HT, and two high efficiency low band gap polymers, PBDTTT-C and PBDTTDPP as donors, with H120 as an acceptor gave power conversion efficiencies of 4.2%, 6.0% and 6.2%, respectively.