Linear oligo [bis-(phenoxy) 1.8 (4-hydroxybutaneoxy) 0.2 phosphazene] (OPHBP) was synthesized and characterized by Fourier transform infrared spectroscopy, nuclear magnetic resonance, and GPC. The obtained oligo [bis-(phenoxy) 1.8 (4-hydroxybutaneoxy) 0.2 phosphazene] was used as crosslinker to prepare a series of novel polyurethanes. Their structure and properties were measured through Fourier transform infrared spectroscopy, thermogravimetric analysis, differential scanning calorimetry, and water contactangle measurement. Compared with conventional polyurethane, novel polyurethanes exhibited better thermal stability, low temperature resistance, and hydrophobicity.