A recycling process for the waste FRP from boats was developed. The recycling process is composed of decomposition of waste FRP with propylene glycol and synthesis of recycled unsaturated polyester resin from the decomposed liquid material. Prior to the decomposition, waste FRP was cut into 2cm x 5cm segments and mechanical impact was applied by press roller to give gaps between cumulated laminates. Propylene glycol effectively decomposed the waste FRP segments and glass fibers were easily separated from decomposed liquid material. Recycled unsaturated polyester resin could be made from the decomposed liquid material by reaction with maleic anhydride and phthalic anhydride.