In this paper we are interested in a sharp result about the global existence and blowup of solutions to a class of pseudo-parabolic equations. First, we represent a unique local weak solution in a new integral form that does not depend on any semigroup. Second, with the help of the Nehari manifold related to the stationary equation, we separate the whole space into two components S+ and S– via a new method, then a sufficient and necessary condition under which the weak solution blows up is established, that is, a weak solution blows up at a finite time if and only if the initial data belongs to S–. Furthermore, we study the decay behaviour of both the solution and the energy functional, and the decay ratios are given specifically.