Chitosan(CS) and cellulose acetate(CA) composite films were prepared using formic acid as a cosolvent by casting, solvent evaporating and neutralization method. This study examines if the blending method, which uses formic acid as a cosolvent is efficient in improving the mechanical properties of CS film, especially wet strength and elongation. Formic acid is an effective cosolvent for the blend of CS and CA. Under wet condition, tensile strength and elongation of the composite films were obviously higher than those of the films made from pure CS. FTIR, DSC, and X-ray diffraction showed that the composite films exhibit a high level of compatibility and that strong interaction between the CS and CA was caused by intermolecular hydrogen bonding. The affinity series of composite film to transition metal ions are Cu(II) > Cd(II) > Cr(III). The adsorption of Cu((II) ion was shown to be highly pH sensitive.