Elastin and collagen were isolated from waste broil skin and modified with l-lactic acid oligomer for the efficacy of substituting petroleum based ointment base matrix. Paraffin wax, which is one of the most extensively used petroleum ointment derivative is well known for its incompatibility with the skin. Chronically it clogs the skin pores, which subsequently affects the release of moisture. To mitigate this problem, a novel approach has been followed to synthesize a fully green and biocompatible ointment base matrix. The extracted Elastin and Collagen (which exists naturally in our skin) and lactic acid monomer (commonly known as a part of a body fluid) mixed at different proportion and used to synthesize a lactic acid modified elastin/collagen (OLLA-m-ELN/COL) bioconjugate matrix with lubricating characteristics via in-situ polycondensation reaction. The macromolecular interaction between Amide I group of elastin/collagen and C=O of a lactic acid oligomer was confirmed by FTIR analysis. Organoleptic analysis, spreadability, pH, and viscosity were analyzed. The six-mass loss stages which was observed in the ELN/COL matrix was changed into a single mass loss for the synthesized bioconjugate with improved thermal stability. The thermal stability improvement can be correlated with the formation of secondary macromolecular interaction.