In this paper, the medium chain glycerides of coconut oil were used as solvolysis reagents for microwave-enhanced conversion of polycarbonate into recycled polyols. First, triglycerides of coconut oil were transesterified with glycerol to monoglycerides bearing functional hydroxyl groups, which were able to react with carbonate linkages resulting in cleavage of polycarbonate chain. The important accelerating effect of microwave irradiation on kinetics of polycarbonate solvolysis was observed. The developed recycling process produced a mixture of low-molecular weight polyols applicable for synthesis of novel polyurethanes.