As one of the three main components of paper-based friction materials, resin plays a crucial role in determining the material’s performance. Resin behavior varies under different curing conditions, affecting its properties and the overall performance of the material. To find the optimal curing process for paper-based friction materials, we studied the curing process and mechanism of polyamide-modified phenolic resin (PA–PF composite resin) and examined how the curing process influences the structure and properties of these materials. The findings indicate that paper-based friction materials cured at 160°C for 60 minutes show the highest fiber/resin interface bonding strength, with a tensile strength of 14.4 MPa, shear strength of 1.3 MPa, and a strength retention rate of 99.2% after reaching a stable permanent deformation rate. These materials also demonstrate stable dynamic mechanical thermal performance, including a storage modulus of 2758.6 MPa, a cross-linking density of 146343 mol/m³, and a glass transition temperature of 205.7°C. Furthermore, they have excellent compression resilience, with a low permanent deformation rate of 4.1%, and show a uniform pore distribution with a porosity rate of 57.1%. The wear rate is measured at 0.3 × 10−8 cm³/N · m, and the average dynamic friction coefficients are 0.3, 0.1, and 0.1 at pressures of 0.5 MPa, 1.9 MPa, and 3.0 MPa, respectively, with dynamic/static friction coefficient ratios of 0.9, 0.9, and 0.8.