This study investigates the performance of polyvinyl chloride (PVC) plasticized with diisononyl phthalate (DINP), rapeseed oil epoxidized ester (ROE), and rapeseed oil carbonated ester (ROC). The formulations were evaluated for surface resistance, wettability, migration, mechanical properties, and resistance to aging and thermal degradation. PVC/ROC exhibited the highest surface resistance of 1.5 × 1016 Ω, indicating superior electrical insulation. Wettability tests showed PVC/ROE with the highest contact angle at 63°, while PVC/ROC and PVC/DINP demonstrated lower contact angles of 44° and 43°, respectively. Migration tests revealed that PVC/ROC had the lowest migration rates: 0.1% in distilled water and 1.5% in 95% ethanol. Mechanical testing under algae exposure demonstrated that PVC/ROC achieved the highest tensile strength of 43 MPa and a strain at break of 200%. After 1008 h of thermo‐oxidative aging, PVC/ROC retained superior tensile strength and hardness, while PVC/ROE showed a slight decrease. PVC/ROC also demonstrated improved thermal stability at 255°C compared with DINP (245°C). These results confirm that ROC is an effective bio‐based plasticizer, providing enhanced mechanical properties, reduced migration, and greater durability compared to conventional DINP, offering a sustainable alternative for diverse PVC applications in medical, automotive, and packaging industries.