Three kinds of tung oil-based structural flame retardants polyols (TOFPs) were prepared by new methods in this paper. First, tung oil was used to produce monoglyceride and diglyceride by transesterification with glycerol by sodium methoxide. The products after transesterification were epoxidized by peracetic acid which was in-situ generated from acetic acid and hydrogen peroxide in presence of sulfuric acid catalyst. And then, TOFPs were prepared from epoxidized alcoholysis tung oil (EGTO) with 9, 10-dihydro-9-oxa-10-phosphaphenanthrene-10-oxide (DOPO), diethyl phosphate (DEP) and diethanolamine (DEA) by ring-opening reactions, respectively. GPC was used to evaluate the conversion rate, at optimum reaction conditions, selectivity for monoglyceride in transesterification. The influence of different parameters such as temperature, mole ratio or mass ratio on the conversion rate of transesterification and epoxidation were investigated. The molecular structures of TOFPs were characterized by FTIR and 1HNMR. Finally, tung oil-based polyurethane foams (TOPUFs) were prepared by a one-shot process using TOFPs with polyisocyanate. The LOI values of TOPUFs whose content of DOPO-EGTO, DEP-EGTO and DEA-EGTO were 100 wt% can reach to 26.2%, 25.1%, 24.4%, respectively.