A novel phenolic ester Bz-3-tBz was synthesized by reaction between 1,3,5-benzenetricarboxylic acid chloride and 3,5-di-tert-butyl-4-hydroxybenyl alcohol using N,N'-dimethylacetamide solvent and N,N'-dimethylaminopyridine as catalyst. The additive Bz-3-tBz was characterized by CHN, FT-IR, NMR and TG. The Bz-3-tBz was then evaluated as antioxidant additive in polyol by the rotatory bomb oxidation test (RBOT) as per ASTM D2272. The RBOT time for the blank sample containing only polyol base was observed to be 6 min 43 sec. It was observed that Bz-3-tBz in 3000 ppm concentration enhanced the RBOT time to the 15 min 46 sec. It was a significant increase of 2.35 times. The oxidation stability of biodiesel was also found to be increased when Bz-3-tBz was added in to it. The value of induction time determined by the Rancimat test for the biodiesel at 130 degrees C was 0.60 h which was increased to 3.14 h at 2000 ppm Bz-3-tBz concentration.