New types of mono and bi-functional benzoxazine monomers were synthesized using cardanol (C) and 4-aminobenzonitrile (abn), p-phenylediamine ( ppda) along with paraformaldehyde. The synthesized benzoxazine monomers structure was elucidated by 1H, 13C-NMR and FTIR spectroscopic techniques. The polymerization temperature (T p ) of C-abn and C- ppda are noticed at 280 o C and 237 o C, respectively. It was also noticed that bi-functional benzoxazine (C- ppda) possesses lower curing temperature than mono-functional benzoxazine (C-abn). The ring opening polymerization of benzoxazine was confirmed by FTIR spectroscopy. Thermal analyses indicate that, benzoxazine [poly(C- ppda)] possesses higher thermal stability than poly(C-abn). The surface roughness of the benzoxazine coated MS specimen was analysed by atomic force microscope. The values of water contact angles obtained for poly(C-abn) and poly(C- ppda) are 145 o and 148 o, respectively. It was noticed that the mild steel specimen coated with bio-based benzoxazine C-abn exhibit excellent resistance to corrosion.