In this study, unsaturated polyester (UP) resin based on palm oil was synthesized. Palm oil monoglyceride (POMG) was obtained by alchoholysis process of palm oil at 230 degrees C for 3 h. Then, POMG was treated with maleic anhydride (MA) at different ratio of POMG:MA to produce UP resin. The products were then characterized using Fourier transform infrared (FTIR) spectrometer and proton nuclear magnetic resonance (1H-NMR) spectrometer. FTIR and 1H-NMR spectrum analyses confirmed that the unsaturated group of MA was chemically attached to POMG. The activation energy of POMG/MA reaction was also studied. The results showed that the ratio of reactants and the presence of 2-methylimidazole influenced the activation energy of reaction. The prepared UP resin was mixed with 35% of styrene, 0.3% of cobalt naphthenate, and 1% of methyl ethyl ketone peroxide before it was subjected to curing process. The effect of POMG/MG ratio on swelling properties of the cured UP was studied, and the result indicated that toluene and cured UP resin were compatible. POLYM. ENG. SCI., 2013. (c) 2012 Society of Plastics Engineers