Cyanate ester (CE) resins possess excellent thermal and mechanical characteristics, yet their brittleness and high cross‐link density limit their practical application. To overcome this limitation, the modification of CE with thermoplastic resins has been employed as an effective strategy to enhance their toughness and mechanical properties. In this study, a novel fluorinated poly(aryl ether nitrile) (PFPEN) with excellent solubility and thermal properties was synthesized through a nucleophilic substitution reaction. The effect of the addition of PFPEN on a blend composed of bisphenol A cyanate ester (ACE) and a mixed catalyst was investigated. Differential scanning calorimetry results showed that the addition of PFPEN facilitated the curing reaction of ACE, resulting in a lower exothermic peak temperature. Compared to the pure ACE, the addition of PFPEN at 20 phr significantly improved the tensile and impact strengths of the resin, as well as enhanced the lap shear strength at room temperature by 36% and the peel strength by 320%, respectively. The scanning electron microscope results showed a ductile fracture mechanism. However, it should be noted that the decrease in crosslinking density resulting from the addition of PFPEN may affect the lap shear strength at 300°C and the glass transition temperature (Tg) of the material.