New copolymers containing oxadiazole, carbazole, and europium-containing fragments in the side chains were synthesized by ring-opening metathesis polymerization. The polymeric materials obtained were characterized by IR spectroscopy, GPC and DSC methods, and elemental analysis. All the copolymers possess strong metal-centered photoluminescence in solution and in thin film. In the electroluminescence spectra, the emission of the europium cations is exhibited and a broad band with the maximum at 507 nm is observed, which supposedly is attributable to the emission of the electroplexes between the polymeric matrix and the europium-containing fragments.