Cardanol is a renewable and natural material, widely available, relatively low-cost obtained as by-product of the cashew industry for the edible use of cashew kernel. Cardanol is indeed a mixture of 3-n-pentadecylphenol, 3-(-pentadeca-8-enyl)phenol, 3-(pentadeca-8,11-dienyl)phenol and 3-(pentadeca-8,11,14-trienyl)phenol. The unsaturation in the chain of 3-(-pentadeca-8-enyl)phenol, main compound of the mixture, can give rise through cross metathesis reaction to new cardanol compounds with new double bonds. This paper reports the preparation of fine chemicals from cardanol by using Hoveyda-Grubbs Catalyst 2 nd generation cross metathesis reaction involving the olefinic double bond of cardanol producing new and interesting olefinic cardanol derivatives and hybrids compounds.