Acute lung injury/inflammation (ALI) is usually caused by various injury factors inside and outside the lung, which can be transformed into acute respiratory distress syndrome (ARDS) in severe cases. Alveolar macrophages play a key role in the pathogenesis of ALI, which regulate inflammatory responses by secreting inflammatory mediators. Therefore, we prepared dexamethasone (DXM)/mannose co-modified branched polyethyleneimine (PEI) (DXM-PEI-mannose, DPM) prodrug nanopartcales, which could effectively target the mannose receptor (MR) on the surface of alveolar macrophages and be used for the treatment of ALI. The DXM-PEI (DP) prodrug was obtained by linking DXM with branched PEI through Schiff base reaction. Subsequently, the pH-responsive DPM prodrug was obtained by using mannose-targeted head modification. The DPM prodrug NPs with a particle size of 115 ± 1 nm, a polydispersity index (PDI) value of 0.054 ± 0.018, and a zeta potential of 31 ± 1 mV were obtained by cross-linking. The drug loading of DPM prodrug NPs measured by the acid hydrolysis method was 51.88%, which had good serum stability and biocompatibility. By comparing the stability and property release of prodrug NPs under different pH (7.4 and 5.0) conditions, it showed that DPM prodrug NPs had certain sensitivity to the micro-acid environment. To study the targeting of mouse mononuclear macrophages, mannose-modified prodrug NPs showed significant in vitro targeting. Moreover, prodrug NPs showed good anti-inflammatory activity in vitro, which was significantly different from free drugs. In vivo biodistribution experiments also showed that it had a long-term lung targeting effect. DPM prodrug NPs also had a good therapeutic effect on ALI. In conclusion, the mannose-modified DXM prodrug NPs delivery system could specifically target lung tissues and have a good therapeutic effect, which might be useful for the treatment of lung diseases.