A novel nitrogen-phosphorus compound, diphenyl piperazine-1,4-diylbis(methylphosphinate)(DPPMP) was synthesized via a two step reaction and its flame retarding efficiency as a single component additive was investigated. The success of synthesis was confirmed by FTIR and $^1H$ and $^{31}P$ NMR analysis. The product was mixed with polycarbonate (PC), poly(butylene terephtalate) (PBT), ethylene-vinyl-acetate copolymer (EVA), and acrylonitrile-butadiene-styrene copolymer (ABS). The flame-retarding efficiency was evaluated using the limiting oxygen index (LOI) and the UL-94 vertical test methods. The addition of DPPMP enhanced the flame retardancy of the polymers and the V-0 ratings were obtained for the polymers examined in this study at a loading of 7-30 wt%. The gas-phase flame retardancy mode of action was suggested for this material from the thermogrametry experiment results.