Various polyurethane-based shape memory polymer was synthesized using polycaprolactone (PCL) as soft segment and, hexamethylene diisocyanate (HMDI) and isophorone diisocyanate (IPDI) as the hard segments. Palm kernel oil-based polyol was used to replace part of the petroleum-based polyol due to the increasing demand on renewable resources as a result of environmental awareness. The synthesis has been carried out using two step polymerization method. The effects of varying the molar ratio of IPDI/HMDI on material properties such as crystallinity, transition temperature, morphology, shape memory effect and tensile strength were investigated by using Fourier transform infrared spectroscopy (FTIR), differential scanning calorimetry (DSC), X-ray diffraction (XRD), scanning electron microscopy (SEM), shape memory test and tensile test. A high IPDI content in SMPU results in better shape memory effect, whereas increasing HMDI content leads to a better chain flexibility. In this work, the incorporation of IPDI contributes to the formation of phase separation which enhance the formation of crystalline soft segment structure while the incorporation of HMDI as isocyanate tend to promote phase mixing which enhance the chain flexibility of the SMPU backbone.