In the selection of materials for deep‐sea equipment, light weight and high strength are the most important criteria or requirements. In this paper, hollow glass microspheres (HGMS), expanded polystyrene (EPS), epoxy resin (EP) and curing agent were mixed to prepare hollow glass microspheres reinforced epoxy foam balls (HGMS‐EHS) by the rolling ball method. Glass fiber (GF) reinforced epoxy syntactic foam (GF‐ESF) was prepared by mixing HGMS‐EHS, HGMS, EP, GF, and curing agent using compression moulding method. By analyzing the mechanical properties and microscopic morphology of GF‐ESF, the results show that the addition of GF does enhance the compressive strength of epoxy syntactic foam. GF‐ESF has a density of 496 kg/m3, and its compressive strength is 30.48 MPa. By increasing the number of layers of HGMS‐EHS, the diameter of EPS, the density of HGMS and reducing the stacking volume of HGMS‐EHS, the density of ESF increased significantly thus subsequently increase the compressive strength. Therefore, the compressive strength and density should be considered comprehensively and find the best balance point in the process of preparing ESF. This paper could provide some suggestions for the preparation of deep‐sea epoxy composites.