Bio-based rapeseed oil (RO) polyol was synthesized by transesterification with triethanolamine. Synthesized RO/triethanolamine ester was modified with triethylene glycol (TEG) to obtain a polyol system with higher hydroxyl value, as well as with e-caprolactone (CL) to increase the carbon chain length and decrease the hydroxyl value. From these polyols there were synthesized polyurethane (PU) networks which showed good mechanical properties. It was established that with increasing urethane groups concentration and increasing crosslinking, polyurethane networks showed higher modulus of elasticity (E) and tensile strength (s). Polyurethane networks also showed higher elongation at break (e) with decreasing urethane groups concentration and decreasing crosslinking.