A novel compound, tri-(4-methoxythphenyl) phosphate, was synthesized and investigated as a safety electrolyte additive for lithium-ion batteries. It was found that this additive could lower the flammability of the electrolyte, and thereby enhance the thermal stability of the Li-ion battery. Moreover, this molecule can also be polymerized at 4.35V (vs. Li/Li+) to form a conducting polymer, which can protect the batteries from voltage runaway at overcharge by internal bypassing the overcharging current in the batteries. Thus, it is possible to use this electrolyte additive to provide both overcharge protection and flame retardancy for lithium-ion batteries without much influence on the battery performance.