Novel macromonomers and telechelics of poly(2‐alkyl‐2‐oxazoline) (PROZO) were syn‐thesized by utilizing termination of propagating species (2‐oxazolinium ions) in the living polymerization of 2‐alkyl‐2‐oxazoline (ROZO) with suitable nucleophiles. Two types of p‐vinylbenzyl–type macromonomers were obtained by terminating living PROZO with sodium p‐vinylbenzyl alkoxide or with sodium p‐vinylbenzyl mercaptide. The synthesis of telechelics having a functional group (SH, COOH) on both ends of PROZO was achieved by using a bis(2‐oxazolinium salt) initiator. The PROZO dithiol was synthesized by two methods: (1) termination of the living species on both ends with NaSH, and (2) aminolysis of PROZO bis(O‐ethyldithiocarbonate) given by treatment of the living PROZO with potassium O‐ethyldithiocarbonate. Termination of the living PROZO with the sodium salt of di‐t‐butyl malonate yielded a PROZO with di‐t‐butyl malonate moieties on both polymer ends, from which the PROZO dicarboxylic acid was derived via free tetracarboxylic acid. © 1995 John Wiley & Sons, Inc.