Terpolymer (2,2’-BPTEPAF) has been synthesized by using the monomers 2,2’-Biphenol and Tetraethylenepentamine with Formaldehyde in 1:1:2 molar proportion. The structure of newly synthesized terpolymer has been explicated on the basis of elemental analysis and various spectral studies i.e. UV-Visible, FTIR and 1H-NMR spectroscopy. Thermal degradation study has been carried out to ascertain its thermal degradation behavior and thermal stability. Kinetic parameters, such as activation energy (Ea), order of reaction (n) and frequency factor (z) have been evaluated by applying Friedman, Chang, Sharp-Wentworth and Freeman-Carroll methods. The activation energy calculated by using the Friedman (10.81 kJ/mol) and Chang (11.11 kJ/mol) methods have been found to be in close agreement with each other and activation energy calculated by Sharp-Wentworth and Freeman-Carroll methods are also in same manner.