A novel eco-friendly composite material made of polyurethane derived from castor oil reinforced with long cotton fibers was developed. A set of comparative analyses comprising static and dynamic tests was established using specimens made of castor oil-based polyurethane reinforced by glass fibers, and epoxy reinforced by glass and cotton fibers. The manufacturing method and estimation of fiber volume fraction of the specimens were described in detail. Tensile and flexural tests were performed to evaluate the mechanical performance of the novel laminate. Fractographic post-mortem examinations assessed the quality of the fiber–matrix interaction and allowed direct observation of the failure modes. Surface treatment of natural fibers appears necessary to improve the adhesion of the natural fibers to the matrix. Dynamic responses are discussed, considering natural frequencies and modal damping coefficients. In this context, the potentialities and the limitations of using the novel eco-friendly composite material as structural parts are discussed.