The polymeric ligand, specially resins are proved very effective, active and satisfy specific requirements. The formation of polychelates with polymeric resin behave as an excellent catalysts, ion-exchanger, heat resistant surface coatings, antifouling paints and antimicrobial agents. This is due to the presence of organic and inorganic materials because these two are the prime factors to establish the effective and desire change in their physical and chemical properties. Therefore, an attempt has been made to synthesis and characterizes polymeric ligand (resin) and its polychelates, to study ion-exchange property of resin. The polymeric ligand [(2-hydroxy-4-methoxy benzophenone)1,4-butylene (HMBP-1,4-BD)] was synthesized by polycondensation of 2-hydroxy-4 -methoxy benzophenone with 1,4-butane diol in presence of polyphosphoric acid as a catalyst at 160 °C for 13 h. La(III), Pr(III), Nd(III), Sm(III), Gd(III), Tb(III) and Dy(III) metal ions were selected for the synthesis of polychelates. HMBP-1,4-BD possess good selectivity for the lanthanides (III). The use of resin, as an ion-exchanger has been studies, and it has been found that resin can be used as an ion-exchanger.