In this paper, a kind of unsaturated polyester resin (UPR) was prepared by using renewable soybean oil, glycerol, propylene glycol and anhydride as raw materials. In this process, soybean oil firstly reacted with glycerol to yield monoglyceride, then, propylene glycol partly replaced by monoglyceride reacted with anhydride to yield UPR. The effect of weight content of monoglyceride on the mechanical properties of UPR was systematically studied. Results showed that with the increase of weight content of monoglyceride, the curing exothermic peak of UPR was dropped; the curing shrinkage and flexural strength and tensile strength were decreased. But the impact strength and the tensile elongation were increased. When the weight content of monoglyceride was 40%, the impact strength and the tensile elongation could reach 102.074 kJ/m2 and 27.69%, respectively. The prepared UPR had some advantages such as low-cost, flexible and high production efficiency.