The present invention discloses a cellulose based optical film material with the following structure: wherein R.sup.1 is --H or --C(O)R.sup.4, R.sup.4 is alkyl or aryl; R.sup.2 is --C(O)R.sup.5, R.sup.5 is alkyl or aryl; R.sup.3 comprises one of the group consisting of: phosphinate based group, phosphonate based group, phosphonamide based group, phosphate based group, phosphoramide based group, carbamate based group, carbonate based group, and ester based group. Further, this invention also discloses a method for forming the cellulose based optical film material.