Terpolymer resins have been synthesized by condensation of p-nitrophenol, triethylenetetramine and formaldehyde in presence of 2M NaOH as a catalyst with different molar proportions of monomers. Newly synthesized terpolymers were proved to be selective chelation ion-exchangers for metal ions like Fe 3+ , Cu 2+ , Ni 2+ , Co 2+ , Zn 2+ , Cd 2+ , Hg 2+ and Pb 2+ . A batch equilibrium study was carried out over a wide pH range, shaking time and in media of various ionic strengths of different electrolytes and shows higher selectivity for Hg 2+ , Cd 2+ and Pb 2+ . Distribution ratios of metal ions were found to be increased by increasing pH of solutions; hence the resins can be used to recover certain metals from waste solutions and removal of iron from boiler water.