Most of the commercially available ion exchange resins at present are either styrene–DVB-based or phenol-based and these are dependent on petroleum products. In view of the ever increasing demand for ion exchange resins and the petroleum crisis, the cost of these resins is going up in leaps and bounds. Although work on ion exchange resins based on naturally occurring tannins and similar materials have been reported in the literature, their low stability, insufficiently low exchange capacity, and similar other disadvantages come in the way of commercial exploitation of these products. In the present communication, studies on preparation and properties, viz., exchange capacity, hydration, swelling, stability, etc. of some effective cation exchange resins which have been obtained from a renewable natural resource of polyphenolic nature and some small proportion of phenol have been reported. The resins studied are stable and of moderately high exchange capacity (2–3 meq/g). Substituting phenol with low-priced renewable polyphenolic material, the resultant copolymer matrix after sulfonation gives ion exchange resins which are quite economic. Their properties are comparable with the commercial resins available in the market.