A novel graft copolymer of acrylic acid onto poly(vinyl alcohol) has been synthesized and it is cross-linked by glutaraldehyde for the investigation of its efficiency in removing lead ion from aqueous solution. The chemical nature of the ion exchange resin has been elucidated with the help of chemical, spectral, and thermal analysis. Particle size, surface area, ion exchange capacity, optimum pH, time, and temperature for Pb(II) adsorption were determined. Metal ion adsorption kinetics, isotherms, and thermodynamics have been studied. A plausible mechanism for lead ion exchange has been suggested.