The hydroxylation of epoxidized soy- bean oil was performed in a well-mixed agitated reactor under isothermal operation. Two agents for hydroxylation were evaluated using a homogeneous catalyst. The tests were positive and the best results are achieved with molar relations of alcohol to epox- ide of 4:1 for ethanol (T=70°C) and 6:1 for ethylene glycol (T=80°C), using sulfuric acid (2 % p/p) as a catalyst. The hydroxyl numbers of the oleochemical polyols obtained are 120 and 331 mg KOH/g, with theoretical functionalities of 2 and 6 for ethanol and ethylene glycol soy-based polyols, respectively.