To improve the flame retardancy of Polymethacrylimide (PMI) foam, in this study, a series of flame-retardant PMI foams were prepared by grafting with flame retardant amino-terminated phosphorous polyborosiloxane (N-PBSi), using tert-butanol (TBA) as the foaming agent. The structure, mechanical properties, thermal behavior, and flame retardancy of the resultant PMI foams were characterized. These as-prepared foams tended to be more compact in structure as N-PBSi content increased. The tensile, compressive, and bending strength of these PMI foams therefore was greatly enhanced, which were about 2 times, 9 times, and 3 times that of pure PMI foam, respectively. Besides, the introduction of N-PBSi also attributed to PMI foams better performance in char forming, especially in the air, which is beneficial for obtaining better retardancy against flame. Their advantages in flame retardancy and smoke inhabitation were confirmed by limiting oxygen index (LOI) and cone calorimeter tests (CCT). The total heat release (THR) and the peak of smoke generation rate (pSPR) of PMI/N-PBSi-20 were reduced by 23.1 % and 69.9 %, respectively. The N-PBSi incorporated were thought to not only generate phosphorus-containing fragments to capture free radicals in gas phase, but also rearrange in the solid phase to form a denser carbon layer to provide a better barrier between external heat and internal flammable pyrolysis gases. Given these, it can be envisaged that the flame-retardant PMI foams modified by N-PBSi may be more attractive in a wider range of applications.