Hydrogels have been extensively used in the field of biomedical engineering. In order to achieve non-invasive and real-time visualization of the in vivo status of hydrogels, we designed a fluorescent polyurethane-oxidized dextran (PU-OD) hydrogel with good injectability and self-healing properties, which was cross-linked from a tetraphenyl ethylene (TPE)-containing fluorescent polyurethane emulsion with oxidized dextran by dynamic acylhydrazone bonds. The hydrogel can be used as a visual platform for drug delivery as well as monitoring its own degradation. The network structure of the hydrogel gave it drug-loading capability, and the acylhydrazone bond enabled its pH-responsive drug release. Meanwhile, the PU-OD hydrogel could undergo fluorescence resonance transfer with doxorubicin hydrochloride, showing its potential application in monitoring drug release. In addition, fluorometric and weighing methods were performed to monitor the degradation behavior of the hydrogels in vivo and in vitro , respectively, showing that the non-invasive fluorometric method can be consistent with the invasive weighing method. This work highlights that the introduction of aggregation-induced emission molecules into polyurethanes provides a visual platform that allows for non-invasive monitoring of the material without affecting its own function, which is convenient and less damaging to the body or animals. Consequently, it possesses excellent and promising potential in biomedical materials technologies.