The replacement of synthetic fibers by natural fibers has, in recent decades, been the subject of intense research, particularly as reinforcement of composites. In this work, the lesser known tucum fiber, extracted from the leaves of the Amazon Astrocaryum vulgare palm tree, is investigated as a possible novel reinforcement of epoxy composites. The tucum fiber was characterized by pullout test for interfacial adhesion with epoxy matrix. The fiber presented a critical length of 6.30 mm, with interfacial shear strength of 2.73 MPa. Composites prepared with different volume fractions of 20 and 40% tucum fiber were characterized by tensile and Izod impact tests, as well as by ballistic impact energy absorption using .22 ammunition. A cost analysis compared the tucum fiber epoxy composites with other natural and synthetic fiber reinforced epoxy composites. The results showed that 40 vol% tucum fiber epoxy composites increased the tensile strength by 104% and the absorbed Izod impact energy by 157% in comparison to the plain epoxy, while the ballistic performance of the 20 vol% tucum fiber composites increased 150%. These results confirmed for the first time a reinforcement effect of the tucum fiber to polymer composites. Moreover, these composites exhibit superior cost effectiveness, taking into account a comparison made with others epoxy polymer composites.