A new aromatic diacid monomer, namely, 1,4‐phenylene‐bis‐[[4′‐(4″‐carboxy methylene) phenoxy phenyl] methanone] (PBCPPM) is successfully synthesized and characterized by physical constant, FT‐IR, NMR (1H and 13C) spectroscopy, and mass spectrometry. Synthesis of new series of polyamides with high thermal stability and improved solubility are performed by Yamazaki's direct phosphorylative polycondensation method from new PBCPPM with different aromatic diamines. The inherent viscosity of these polyamides is in the range 0.47–0.81 dL g−1. All these polyamides are amorphous or partly crystalline and reveal good solubility in polar aprotic solvents and exhibit glass transition temperatures between 201 and 232 °C. Initial decomposition temperatures are in the range 300–367 °C and T10 is in the range of 376–414 °C indicating good thermal stability of these polyamides. The present observations suggest that these polyamides can find potential applications as high performance polymers.