We report a novel synthetic approach for the attachment of the polyazido nitrogen rich molecule on to the hydroxyl terminated polybutadiene (HTPB) backbone. The terminal carbon atoms of the HTPB are functionalized by attaching cyanuric chloride (CYC) covalently on the HTPB backbone. Further reaction of this modified HTPB with sodium azide yields polyazido nitrogen rich HTPB. The unique physico-chemical properties and the microstructure of the HTPB do not get affected upon modification. IR, gel permeable chromatography (GPC) and absorption spectroscopy studies prove that the polyazido nitrogen rich molecules are covalently attached at the terminal carbon atoms of the HTPB. The π electron delocalization owing to long butadiene chain, strong electron withdrawing effect of the triazine molecules are the major driving forces for the covalent attachment of the triazine at the terminal carbon atoms of the HTPB. The disruption of the intermolecular hydrogen bonding between the terminal hydroxyl groups of the HTPB chains and the presence of hydrogen bonding between the N atoms of the triazine ring with OH group of the HTPB are observed. Theoretical study also reveals the existence of the hydrogen bonding between the OH and N. Theoretical calculation shows that the detonation performance of the polyazido nitrogen rich HTPB are very promising.