A carbonization agent, 3,9-di (2-hydroxyisopropyl)-2,4,8,10-tetraoxa-3,9-diphosphaspiro-[5,5]-undecane (SPEPO), was synthesized from pentaerythritol (PER), phosphorus trichloride, formic acid, and acetone as raw materials. The structure of SPEPO was characterized by FTIR and 1 H-NMR. As a carbonization agent and an acid source, SPEPO can form a novel intumescent flame-retardant (IFR) system for low density polyethylene (LDPE) together with ammonium polyphosphate (APP) and melamine phosphate (MP). The flame retardancy and thermal behavior of the IFR system for LDPE were investigated by limiting oxygen index (LOI), UL-94 test, and thermogravimetric analysis (TGA). When the weight ratio of SPEPO, APP, and MP is 7:7:1 and their total loading level is 30%, the IFR-LDPE presents the optimal flame retardancy (LOI value of 27.6 and UL-94 V-0 rating). However, SPEPO, APP, or MP can only show a very poor flame-retardant performance when used alone. This indicates that there is a synergistic effect among SPEPO, APP, and MP. TGA results obtained in air demonstrate that SPEPO has an ability of char formation itself, and the char residue of SPEPO can reach 24 wt% at 700-C. The IFR can change the thermal degradation behavior of LDPE, enhance T max of the decomposition peak of LDPE, and promote LDPE to form char based on the calculated and the experimental data of residues. According to the results of Py-GC/MS in combination with FTIR of the char residues at different temperatures, a possible flame-retardant mechanism has been proposed.A novel intumescent flame-retardant LDPE system 1573 Scheme 4. A speculative route for char formation of PEDP.Scheme 5. The reaction of oxidized PE chain with PEDP and polyphosphoric acid.