A series of ester derivatives with hydroxyl groups were created by esterification of 1,2-propanediol and glycerol with o-toluoyl chloride via the catalyst 4-dimethylaminopyridine (DMAP). All the compounds were verified using nuclear magnetic resonance ( 1 H NMR, 13 C NMR), infrared spectroscopy, and high resolution mass spectrometry. Moisture absorption and desorption experiments were carried out on the compounds' pure systems and their systems in reconstituted tobacco, while their hygroscopicity and moisturizing properties were evaluated using low-field nuclear magnetic resonance imaging. Two compounds with better absorption and moisture retention were selected: 4 (1-hydroxypropan-2-yl 2-methylbenzoate) and 6 (2,3-dihydroxypropyl 2methylbenzoate), respectively. Moreover, the thermal stability of compounds 4 and 6 were investigated using thermogravimetric (TG) analysis. The results of TG-DTG showed that the maximum mass loss rate of compound 4 appeared at 251.67 °C, with a mass loss rate of 87.61%. At the peak temperature of 291.83 °C, 6 showed the highest decomposition rate with 49.23% mass loss rate. To explore the antioxidant properties, we constructed three different antioxidant systems. Furthermore, compound 6 showed excellent effects, with scavenging rates reaching 69.28%, 71.92%, and 75.93%, respectively. Smoke volume results indicated that the compounds optimally replaced propanediol and glycerol at a rate of 40%. The results provide a theoretical reference for the development of new moisturizing agents based on polyol esters in the tobacco industry.