The evolution of hypersonic vehicles has raised higher requirements for thermal protection materials, which have become the focus of research on how to meet the lightweight and less ablative. Herein, a yttrium silicate‐coated carbon fiber felts (YS‐CFs) reinforced phenolic aerogel‐like (PR) composites were prepared. The YS‐CFs/PR with the addition of 12 % hexamethylenetetramine exhibited low density (0.540 g/cm3), low thermal conductivity (0.145 W/(m⋅K)), and good thermal stability. Specifically, under an oxyacetylene flame examination with 2.44 MW/m2 heated for 120 s, its mass ablation rates (9.833 mg/s) and line ablation rates (5 μm/s) were decreased by 40.8 % and 32.6 %, respectively, compared to others. The results show that the composites with these combined properties can meet the requirements for thermal protection materials in the field of hypersonic vehicles.