Bis 2-Hydroxy Ethyl Terephthalate-based biodegradable poly(mannitol-citric-sebacate) has been synthesized by catalyst-free melt condensation process using two different diacids and Bis 2-Hydroxy Ethyl Terephthalate with D-mannitol as monomers having a potential to be metabolized in vivo. The biocompatibility of the polymer, Bis 2-Hydroxy Ethyl Terephthalate-poly(mannitol-citric-sebacate) has been tested using human primary stromal cells. In vitro degradation of Bis 2-Hydroxy Ethyl Terephthalate-poly(mannitol-citric-sebacate) polymer in Phosphate Buffered Saline solution carried out at physiological conditions indicates that the degradation goes to completion after 23 days. The usage of Bis 2-Hydroxy Ethyl Terephthalate-poly(mannitol-citric-sebacate) polymer as a drug carrier has been analyzed by doping the polymer with Doxorubicin model drug and the release rate has been studied by mass loss over time. The cumulative drug-release profiles exhibit a biphasic release with an initial burst release and cumulative 100 percent release within 14 days.