Developing vegetable oil-derived primary plasticizers for poly(vinyl chloride) (PVC) is still a challenge because of their insufficient compatibility. As described in this work, we report the synthesis of plasticizers through the esterification of polyethylene glycol methyl ether and dimer acid, in which dimer acid is renewable material prepared via a two-step reaction (1) the hydrolysis of fatty acids from soybean oil at 70 °C and (2) subsequent Diels–Alder reaction at 250 °C. The resulting plasticizers, dimer acid-derived polyethylene glycol methyl ether esters (DA-2n, 2n = 2, 4, 6 or 8 referring to the number of oxethyl units per molecule), were blended with PVC. It was found that the tensile properties, transparency, and thermal stability of plasticized PVC (PVC-DA-2n) increased significantly with an increase in the number of oxyethyl units. Fourier-transform infrared spectroscopy analysis revealed that its good compatibility can be attributed to the strong interaction between oxyethyl units and PVC. As the number of the oxyethyl units of plasticizer increased, the glass transition temperature (Tg) of the corresponding plasticized PVC samples decreased from 62.3 (PVC-DA-2) to 35.4 °C (PVC-DA-8). Owing to the excellent plasticization of DA-8, the performances of PVC-DA-8 were comparable or better than that of the PVC plasticized using commercial dioctyl terephthalate (DOTP). The simple but efficient method of this study provides a new avenue for the preparation of vegetable oil-based plasticizers for PVC.