Abstract: The polyester polyols were made by the addition reaction of acidic oil derived from garbage grease with maleic anhydride first. Then the esterification reaction with diethylene glycol was done. An optimal technologcial condition was obtained. The molar ratio of acidic oil: maleic anhydride: diethylene glycol was 1: 1: 3. 3. The maleic anhydride was added at the temperature of 180℃, 195--200℃and 200--220℃ respectively, and reacted for one hour each time. Then the reaction was kept for 0. 5h at 230--240℃. The last step was esterification for 10h at 240℃ in atmospheric pressure and esterification for I h at 240℃ in vacuum. The acid value of the polyester polyols was less than 1mg/g and the hydroxyl value was 250--300mg/g. The performance of the two-component polyurethane adhesive derived from the polyester polyols reached the cementaion requirements of color steel plates and polystyrene foam plastic. It had certain advantage in production and application.