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Drinfeld had said that quantum loop algebras can degenerate into Yangians.But i can not find any proof about that .Can anyone give me some reference about this question.

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See Chapter 12 in Chari and Pressley's book "A guide to quantum groups". –  Antun Milas Dec 21 '10 at 14:04
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2 Answers

A great very recent paper on the subject is Yangians and quantum affine algebras by Gautam and Toledano-Laredo, where a stronger (and unexpected) form of Drinfeld's result is proved (and there are references to older works of course).

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A recent paper give a complete proof:

http://www.math.ualberta.ca/~nguay/NGuayqlooptoYang.pdf

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