Common flame retardants, such as halogen-based materials, are being phased-out owing to their harmful environmental and health effects. We prepared poly-(cyclotriphosphazene-co-4,4′-sulfonyldiphenol) (PZS) microspheres, nanotubes, capsicum-like nanotubes, and branched nanotubes as flame retardants. An increase in reaction temperature changed the morphology from nanotubes to microspheres. A PZS shape had a positive effect on the flame retardancy of polyethylene terephthalate (PET). The PZS with a capsicum-like nanotube morphology had the best flame retardancy, and the PET limiting oxygen index increased from 25.2% to 34.4%. The flame retardancy capability was followed by PZS microspheres (33.1%), branched nanotubes (32.8%), and nanotubes (32.5%). The capsicum-like nanotubes promote the formation of highly dense and continuous carbon layers, and they release a non-combustible gas (CO2). This study confirms polyphosphazene-based flame retardants as viable and environmentally-friendly alternatives to common flame retardants. It also presents a novel and facile design and synthesis of morphology-controlled nanomaterials with enhanced flame retardant properties.