Synthesis of phosphorus containing epoxy terminated polymers from dichlorophenyl phosphine oxide, various diols like bisphenol-A, resorcinol, 4-4' thiodiphenol and 4-4' sulphone diphenol and epichlorohydrin was carried out by the interfacial polymerization process. These polymers were characterized by viscosity measurement, elemental analyses, Schoniger combustion method, H-1-NMR, (1)3C-NMR and P-31-NMR analyses. These resulting polymers were highly soluble in polar solvents like DMF, DMSO, NMP, HMPA, and acetone etc.