Lightweight liquid oxygen (LOX) tank has attracted much attention recently, and epoxy resin is considered to be one of the most likely candidate materials. In this work, polymer wafer made from bisphenol-A epoxy resin was firstly treated with LOX, and then its macroscopic morphology, microscopic structure, and chemical composition were analyzed by atomic force microscopy and Fourier transformed infrared spectroscopy. Finally, its compatibility with LOX was studied by mechanical impact test. The results showed that LOX treatment has little influence on the macroscopic morphology and chemical composition of the epoxy resin wafer, but has a large influence on its microstructure and compatibility with LOX. With the increase of immersion time, the surface roughness, the number, length, and depth of the cracks appeared on the sample surface were all increased. The reaction caused by mechanical impact became more frequent and intense. Finally, possible damage mechanism was discussed.