A new class of 4-thiazolidinones clubbed with quinozolinone nucleus has been synthesized. The title compounds were screened for their in vitro antimicrobial and anticancer potentials. Results of antimicrobial and anticancer study revealed that compounds 7 (pMICam = 1.69 μM/ml) and 2 (IC50 = 12.83 μM) were found to be the most potent antimicrobial and anticancer agents respectively. QSAR studies indicated that antimicrobial activity of synthesized 4-thiazolidinone derivatives was governed by the electronic parameters, dipole moment (μ), energy of highest occupied molecular orbital (HOMO), lipophilic parameter, log P and topological parameter, valence third order molecular connectivity index ((3)χ(v)).