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Partially epoxidized soybean oil (pESO) and fully epoxidized soybean oil (fESO) were used respectively to modify a diglycidyl ether of bisphenol A (DGEBA) resin system in this study. The pESO was prepared by epoxidizing soybean oil and the fESO was purchased as it was commercially available. DGEBA/ESO ratio of the epoxy resin system was changed from 100/0 to 70/30 and triethylenetetramine was used as a curing agent. Impact strength of the bio‐epoxy resin system with fESO increased with ESO content, but the system with pESO decreased with ESO content. The bio‐epoxy resin system with pESO showed higher tensile strength and elongation at break than the system with fESO at ESO 30 wt%. Tensile modulus and thermal degradation temperature decreased with ESO content and glass transition temperature was highest at 20 wt% ESO regardless of epoxide functionality of ESO. The performance of the DGEBA/ESO bio‐epoxy resin system could be tailored by changing ESO content and functionality. [ABSTRACT FROM AUTHOR]