In this study, chia air-dry alkyd resins were synthesized from chia oil, glycerol, and phthalic anhydride in a two-step alcoholysis−polycondensation reaction. Various resins were synthesized consisting of varying oil lengths of 30, 45, 48, and 55%. The presence of functional groups of the chia alkyds was confirmed qualitatively by Fourier transform infrared (FTIR) spectroscopy and quantitatively by 1 H nuclear magnetic resonance (NMR) and 13 C NMR. Besides, a series of experiments were conducted to evaluate the effect of the process parameters on the alkyd resin synthesis, such as temperature, catalyst type, and concentration. The catalysts played a fundamental role in the formation of monoglycerides, reducing the alcoholysis completion time by more than half the time observed for reactions without catalysts from 185 to 90 min approximately, along with a satisfactory reaction temperature of 220 °C to avoid catalyst degradation and undesirable effects on oil quality. The characterization indicated esterification, the presence of unsaturated bonds on fatty acid chains, and aromatic structures. Furthermore, a viscosity test was performed on each of the alkyds, as the viscosity dictates the film formation and surface characteristics. Gel permeation chromatography indicated that the resins were of low molecular weight and increased viscosity. The results indicated that differences in oil and phthalic anhydride concentrations in the formulations affected the polymer properties, such as viscosity, number-average molecular weight (M n ), and weight-average molecular weight (M w ) of the resin. The chia alkyd resin of 30% oil composition expressed a M w of 6724 g•mol −1 and a viscosity of 33 833 cP, and the resin of 55% oil composition expressed a M w of 1294 g•mol −1 and a viscosity of 936 cP. Polycondensation reactions carried out at 220 °C provided balanced benefits of reaction time without risking catalysts or oil degradation. This study indicated that chia oil alkyd resins are suitable for surface coating binders and potentially a more effective substitute for linseed oil in the air-dry alkyd resins market.