The present work addresses the critical requirements for the coating industry such as developing the sustainability of biobased materials and simultaneously achieving a balanced combination of coating properties. In this study, acrylated epoxidized soybean oil (AESO) has been successfully synthesized from epoxidized soybean oil and acrylic acid. Subsequently, AESO was modified using a biobased long chain diacid (Pripol-1009) with the assistance of a water/ethanol blend to form waterborne epoxy acrylate (WBEA). The properties of the cured WBEA with 2,5-bis(tert-butylperoxy)-2,5-dimethylhexane as initiator were studied through spectral analysis, coating properties evaluation, corrosion resistance, and morphological and thermal analysis. The results revealed that WBEA exhibited relatively better mechanical, thermal and corrosion resistance characteristics over cured waterborne epoxy.