A new polyphenol (poly‐2‐[(4‐methylbenzylidene)amino]phenol) (P(2‐MBAP)) containing an azomethine group was synthesized by oxidative polycondensation reaction of 2‐[(4‐methylbenzylidene)amino]phenol (2‐MBAP) with NaOCl, H2O2, and O2 oxidants in an aqueous alkaline medium. The structures of 2‐MBAP and P(2‐MBAP) were characterized by UV‐vis, FT‐IR, and 1H NMR spectra. While the monomer decomposed completely up to 350°C and 57.2% of the polymer decomposed up to 1000°C. The thermal degradation of P(2‐MBAP) was also supported by the Thermo‐IR spectra recorded in the temperature range of 25–800°C. Electrical conductivity of the polymer was observed to increase 108 fold after doping with I2. Antimicrobial activities of the P(2‐MBAP) and 2‐MBAP against Sarcina lutea, Enterobacter aerogenes, Escherichia coli, Enterococcus feacalis, Klebsiella pneumoniae, Bacillus subtilis, Candida albicans, and Saccharomyces cerevisiae were also investigated. The number average molecular weight (Mn), weight average molecular weight (Mw) and polydispersity index (PDI) of the polymers were determined by gel permeation chromatography (GPC). © 2014 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2015, 132, 41758.