Herein, we presented a novel biodegradable copolymer via the chain extending reaction of poly(p-dioxanone)-co-poly(2-(2-hydroxyethoxy) benzoate) (PPDO-co-PDHB) prepolymer with hexamethylene diisocyanate (HDI) as a chain extender. The structures and molecular weight of PPDO-co-PDHB prepolymer and PPDO-co-PDHB-PU chain-extended copolymer are characterized via hydrogen nuclear magnetic resonance spectroscopy (1H NMR) and viscosity test. The relationship between the molecular structures and properties of the chain-extended copolymers is established. The PPDO-co-PDHB-PU copolymers possess a better thermal stability comparing with the PPDO homopolymer. The study of mechanical properties shows that the elongation-at-break of PPDO-co-PDHB-PU is much higher than that of PPDO. The investigation of hydrolytic degradation behaviors indicates the degradation rate of PPDO can be controlled by adjusting the PDHB compositions, and proves that chain-extended copolymers exhibit an excellent hydrolytic stability being better than that of PPDO.