We synthesized the vinyl addition-type polynorbomene copolymers using two monomers [5-hexyl-2-norbornene (HNB) and 5-methyleste-2-norbornene(MES-NB)] by means of a cationic ${eta}^3$-allyl palladium catalyst system{[(${eta}^3$-allyl)palladium(tricyclohexylphosphine) trifluoroacetate] and [lithium tetrakis(pentafluorophenyl) borate ${cdot}$2.5 etherate]}. The molecular weights and yields of copolynorbomenes polymerized in various conditions were measured to investigate an optimum polymerization conditions to obtain highly ester-functionalized polynorbomenes. As a Pd catalyst content increased, the molecular weights (Mw) of polymers decreased while polymer yields increased. Also, as a Li cocatalyst content increased, the Mw’s and yields of polymers increased at the same time. The Mw’s of copolymers were also controlled by chain transfer agents such as 1-hexone, 1-octene and 1-decene, and we found that longer 1-decene and 1-octene were more efficient to reduce the Mw’s of polynorbornenes than 1-hexene. On the other hand, the content of chain transfer agents did not give influence significantly on polymer yields. From the $^1$H-NMR and GPC analysis of HNB/MES-NB(feed ratio of 40/60 mol%) copolymer, we found that this copolymer had an about 25 mol% of ester portion and a high molecular weight of 270,000.