The multi-arm star polymer (ESOPLA) was obtained by ring-opening polymerization of dl-lactide using multifunctional epoxidized soybean oil (ESO) as an initiator in the presence of a stannous actuate (SnOct2) catalyst. Gel permeation chromatography with multi-angle laser light scattering (GPC-MALLS), FTIR, 1H NMR, thermal analysis and in vitro degradation were used to qualitatively characterize the synthesized polymers. The results revealed that ESO plays an important role in increasing the molecular weight, polymerization rate and monomer conversion rate. Degradation analysis demonstrated that the decrease in molecular weight and the weight loss ratio of the star-shaped ESOPLA were lower than that of linear poly(dl-lactide) (PDLLA). The surface topography of pre- and post-degradation materials was characterized by scanning electron microscopy (SEM). These SEM images showed that the linear PDLLA films underwent water erosion more readily than the star-shaped polymer films.