A soypolyol based on epoxidized soybean oil (ESO) was prepared in the presence of HBF4 and diethanolamine (DEA) was used as ring opener. A series of polyurethane rigid foam were prepared by mixing polyol with TDI using an isocyanate index of 1.1. The polyol used in this paper were a mixture of soypolyol and a commercial PL-5601 polyester polyol and the mass fraction of PL-5601 was in the range of 08211;60%. The thermal properties of the resins were characterized by DSC and TG. The results showed that these rigid foams possess high thermal stability. There were two glass transition temperature of each foam and Tg1 was increasing with the increasing of OH value. The compression strength of the foam was also recorded, and the effect of mass ratio of soypolyol and PL-5601 polyester polyol on the compression strength was discussed.