Glycolysis of rigid polyurethane foam has been investigated to provide useful data for the recycling of waste rigid polyurethane foam. Diethylene glycol(DEG) and potassium hydroxide(KOH) were used as the solvent and catalyst in the glycolysis system, respectively. The properties of the glycolysis product were determined by analyzing the hydroxyl value, viscosity, and total amine value. The examine the quality of recycled polyol, polyurethaen foams were reprepared using the virgin and recycled polyol mixtures. The polyurethane foam which were prepared by blending up to 20wt% of recycled polyol with virgin polyols showed better physical properties in compressive stength, thermal conductivity compared to those of polyurethane foams from virgin polyol.