In this study, mountain pine beetle (MPB, Dendroctonus ponderosae Hopkins) infested lodgepole pine (Pinus contorta Dougl.) barks are liquefied in phenol using either sulfuric acid or hydrochloric acid as the catalyst and two types of bark-based phenol-formaldehyde novolac resins, namely liquefied bark-novolac resin S and liquefied bark-novolac resin C are synthesized using the liquefied bark fractions. Compared to using hydrochloric acid in bark liquefaction, sulfuric acid catalyzed bark liquefaction reveals a higher liquefaction yield with a lower free phenol content and a higher molecular weight in the liquefied bark fraction. Liquefied barknovolac resins are found to have higher molecular weights, higher curing activation energies, and faster curing rates than the lab-made control resins without bark components. The uncured liquefied bark-novolac resins have higher thermal stability than the uncured lab-made control resins. After curing with hexamethylenetetramine (HMTA), liquefied bark-novolac resins show a similar postcured thermal stability to the lab-made control resins. The findings suggest that the liquefied barks from MPB infested lodgepole pine are suitable for synthesizing novolac resins.