A kind of silicon-and-boron-modified phenolic-formaldehyde resin (SBPF) with excellent thermal stability was fabricated via a simple two-step method and used for the matrix of ablation materials. The structure and thermal stability of the modified phenolic-formaldehyde resins (PFs) were characterised. The results showed that boron and silicon elements have been incorporated into SBPF in the form of a chemical bond. Meanwhile, the cured products showed an increase in graphite structure and a decrease in disordered structure due to the incorporation of boron and silicon. Compared with the ordinary phenolic resin, the initial thermal degradation temperature and charring yield at 800°C of SBPF increased by 73°C and 15 wt%, respectively. Further, the modified PFs, nano-Al 2 O 3 powders, glass powders and vitreous silica fibres were used to obtain a novel ceramizable phenolic moulding composite. The morphology, chemical composition and ablative characteristics of the composites were explored. The results showed that a compact and homogeneous SiO 2-Al 2 O 3 layer formed on the ablated surface and protected the carbonised matrix and fibres from further oxidation. Compared with the ordinary PF composites, the SBPF composites showed a highly decreased linear/mass ablation rates, indicating the synergistic effect of boron and silicon modification on the enhanced ablation property.