Thiol-PEG-Hydrazide (HS-PEG-HZ, SH-PEG-HZ) is a heterobifunctional PEG derivative containing a thiol at one end and a hydrazide at the other end. Thiol selectively binds to maleimide , OPSS, vinyl sulfone and gold, silver and other transition metal surface reaction. Hydrazides can react with carbonyl compounds such as ketones or aldehydes to form hydrazone linkages and can be used for reverse pegylation. This polymer can be used to label glycoproteins, carbohydrate-containing compounds with oxidizable sugars or aldehydes.