Abstract The synthesis of multifunctional plasticizer using rubber seed oil can increase its added value and expand the application field of plasticized products. Recent studies on bio-based plasticizers focus on bio-based raw materials but products lack functionality. In this study, flame retardant phosphate and chlorine were introduced into the chemical structure of rubber seed oil to synthesis a nitrogen and phosphorus synergistic flame retardant plasticizer based on rubber seed oil(NPFP) and apply it to plasticize polyvinyl chloride (PVC). Thermal stability, limiting oxygen index, plasticizing property, solvent extraction resistance, and microstructure of plasticized PVC materials were characterized. The results showed that NPFP with excellent solvent extraction resistance can significantly enhance the limiting oxygen index and thermal stability of plasticized PVC materials, and can partially replace dioctyl phthalate(DOP) as multifunctional auxiliary plasticizer.