Benzoic acid polyester/lactone polyol were synthesized by polycaprolactone 0201 as diol, trimethylolpropane as triol, adipic acid as dibasic acid, and benzoic acid as monobasic acid. Polyisocyanate prepolymer Desmodur N-100 of HDI-biuret type was used in this study. Two-component polyurethane coatings were prepared by blending benzoic acid polyester/polycarprolactone, polyisocyanate, wetting/dispersing agent, white pigment, and flowing agent. Various properties were examined on the film coated with the prepared polyurethane. They showed excellent physical properties such as abrasion resistance, accelerated weathering resistance, and yellowness index. They also showed good physical properties such as flexibility, impact resistance, 60 degrees specular gloss, cross hatch adhesion, hydrocarbon resistance, and lightness index difference. Hardness of coating showed a little poor character. The introduction of polycaprolactone 0201 as diol in the polyurethane coatings improved the hydrocarbon resistance, impact resistance, and flexibility of coatings. According to the drying and curing behavior with the contents of benzoic acid, they seem to have reasonable coating properties such as drying time of 2 to 4 hours and pot-life time of 20 to 37 hours.