Nanowires, nanosheets, and microflowers of nickel ammonium phosphate (NiNH4PO4·H2O) were synthesized by a mixed solvothermal method and used to improve the flame retardancy of epoxy resin (EP). The solvent concentration and surfactant content were found to play a key role in nucleation and growth of NiNH4PO4·H2O. The structure of NiNH4PO4·H2O was characterized by X-ray diffraction and X-ray photoelectron spectroscopy. The flame retardancy, thermostability, mechanical properties, and flame retardancy mechanism of EP/NiNH4PO4·H2O composites were analyzed using the limiting oxygen index (LOI), cone calorimetry (Cone), mechanical property tests, thermogravimetric analysis, and thermogravimetric–Fourier transform infrared spectroscopy. The results indicated that NiNH4PO4·H2O has proper thermal stability and greatly improves the flame retardancy of EP. The nanosheets outperformed the other morphologies; the EP/5% NiNH4PO4·H2O nanosheets have an LOI of 35.2%, which exceeds that of pure EP (24.7%). Furthermore, Cone showed that these nanosheets have the lowest peak heat release rate and peak smoke production rate, which are 69.1% and 36.5% lower than those of pure EP, respectively. NiNH4PO4·H2O can promote the formation of a stable char layer and release nonflammable gases, thus protecting the matrix by preventing heat and oxygen transfer and reducing the concentration of combustible gas. NiNH4PO4·H2O is expected to serve as a new high-efficiency flame retardant for EP.