The 2-(6-oxido-6H-dibenz[c,e][1,2]oxaphosphorin-6-yl)-1,4-dihydroxy phenylene (ODOPB) was prepared by the addition reaction between 9,10-dihydro-9-oxa-10-phosphaphenanthrene-10-oxide (DOPO) and p-benzoquinone. The DOPO was synthesized through a multistep reaction from o-phenylphenol and phosphorus trichloride. The structures and the thermal stability of the compound were characterized by infrared spectroscopy (IR), nuclear magnetic resonance (H-1 NMR and P-31 NMR), mass spectroscopy (MS), elemental analysis, and thermogravimetric analysis (TGA). Using a static analytical method, the solubilities of ODOPB in 2-ethoxyethanol in the temperature range from (293.15 to 367.65) K and in methanol in the temperature range from (293.15 to 322.63) K were determined. The solubilities of ODOPB in acetone, ethanol, and 2-ethoxyethanol + water binary mixtures were also measured for comparison. The solubility data were correlated with an empirical equation.