Two-packaged polyurethane coatings were prepared by blending benzoic acid lactone modified polyester polyol(BLMPs) and HDI-biuret. BLMPs were synthesized by polycondensation of benzoic acid, viscosity depression component, with 1,4-butanediol, adipic acid, and polycaprolactone polyol. Kinematic viscosity of BLMP was gradually decreased with increasing benzoic acid content in BLMP. The low viscosity of modified polyester has an advantage of making a high-solid content coatings. After the film was coated with the prepared polyurethane coatings and cured at room temperature, the various physical properties were measured. They showed good physical properties such as flexibility, impact resistance, cross hatch adhesion, yellowness index, and rust resistance. These advantages are the results of introducing polycaprolactone polyol.