Carefully prepared aqueous solutions of drag‐reducing polymers have been characterized by means of steady viscometric and molecular weight measurements. Solutions of anionic polyacrylamide (Cyanatrol‐750), 0.5–50 ppm, and nonionic poly (ethylene oxide) (Polyox WSR‐303), 100–1000 ppm, were investigated. Steady shear viscosity measurements, with a Rheometrics Stress Rheometer and a Contraves LS30 rheometer, reveal substantial shear thinning for Cyanatrol solutions above 2 ppm and Polyox solutions above 500 ppm, for the shear‐rate range investigated. Zero‐shear viscosity was accurately determined for all solutions. Intrinsic viscosity, hydrodynamic radius of gyration, and overlap concentration were also estimated. The Carreau and Carreau–Yasuda models successfully fit all shear viscosity data, and allow estimates of elasticity. Reduced variables were used for generalizing the shear viscosity data. Aging tests show that both polymers are stable. The molecular weight and polydispersity of Cyanatrol were measured using the technique of band sedimentation/low angle laser light scattering. The drag‐reducing capability of these polymers has been confirmed by pipe flow experiments.