Full-interpenetrating polymer networks (IPNs) were prepared from epoxy and castor oil-based polyurethane (PU), by the sequential mode of synthesis and were characterized by different techniques : swelling test, scanning electron microscopy (SEM), thermomechanical analysis (TMA), thermogravimetric analysis (TGA), tensile test, and instrumented impact test. 2,4-Toluene diisocyanate (TDI) was used as a curing agent for castor oil, at a NO/OH ratio = 1.50, Diglycidyl ether of bisphenol A (DGEBA) was cured and crosslinked using 2,4,6-tris(dimethylaminomethyl)phenol (TDMP) at 1.5%, by weight, of epoxy resin. The homogeneous morphology of IPN samples of PU compositions up to 40%, by weight, revealed by SEM may be attributed to some extent to grafting of the PU phase onto the epoxy matrix, which results from the reaction between NCO groups in the PU phase with OH groups in the epoxy matrix. This has some synergistic effect on the thermal resistance and tensile properties of IPNs compared to those of the pure components, such as illustrated by the data from TGA and tensile tests. However, the grafting structure appears not to enhance their impact resistance, which probably requires the formation of rubbery particles of suitable size.