With the growing number of therapeutic proteins on the market, effective delivery systems are receiving particular attention. In this study, biodegradable elastomers, intended for protein drug delivery and based on methacrylic tripoly(ε‐caprolactone‐co‐d,l‐lactide) cyclic ester with different ratios of ɛ‐caprolactone to d,l‐lactide and methacrylic bipoly[ɛ‐caprolactone‐b‐poly(ethylene glycol)‐b‐ɛ‐caprolactone], were synthesized and characterized. The degradation behavior, bovine serum albumin (BSA)‐releasing kinetics, and cytotoxicity of the elastomers in vitro were investigated. The elastomers were degraded by the hydrolysis of the ester bond; this resulted in pH changes, which further affected the degradation rate. The BSA‐releasing behavior was strongly dependent on the diffusion mechanism. In the diffusion‐controlled period, nearly sustained and stable BSA release was achieved. Furthermore, the elastomers displayed good biocompatibility, as demonstrated by a 3‐(4,5‐dimethyl thiazol‐2‐yl)−2,5‐diphenyl tetrazolium bromide assay and inflammation–induction experiments, and are considered promising candidates for the controllable delivery of protein drugs. © 2016 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2016, 133, 43393.