Polyurethane (PU) foams were prepared using a palm oil-based polyol (PO-p). At the first stage, palm oil was converted to monoglycerides as a new type of polyol by glycerolysis. A yield of the product reached 70% at reaction temperature of 90 degrees C by using an alkali catalyst and a solvent. At the second stage, PU foams were prepared from mixtures of the polyol and polyethylene glycol (PEG) or diethylene glycol (DEG) and an isocyanate compound. Characterization of the foams was carried out by thermal and mechanical analyses. The analyses showed that the chain motion of polyurethane becomes more flexible at the higher PO-p content in the whole polymer, which indicates that the monoglyceride molecules work as soft segments. The study here may lead to a development of a new type of polyurethane foams using palm oil as a raw material.