Epoxidized soybean oil (ESO), which is a biomass-derived resource, was first used as a novel plasticizer for ethyl cellulose (EC) film preparation. Surface morphologies, mechanical performances, thermal properties, oxygen and water vapor permeabilities of plasticized EC films were detected in detail to evaluate the plasticizing effect of ESO and explore the plastication mechanisms. Results showed that ESO was an effective plasticizer that outstripped conventional plasticizers, i.e. dibutyl phthalate (DBP) and triethyl citrate (TEC) in producing high-quality films. Especially, at plasticizer concentrations of 15-25%, ESO-EC films had preferable mechanical properties and better thermal stability, as well as non-flammability. In addition, the water vapor permeability of ESO-EC films was lower than that of traditional plasticized films. Their oxygen permeability was also remained in a low level. These outstanding performances were related to the relatively high molecular weight, hydrophobicity, chemical structure of ESO, and the intermolecular interactions between ESO and EC chains.