A highly efficient flame retardant and smoke suppression oligomer, oligo(phenylphosphonic dihydroxypropyl silicone oil) (PPSO), was synthesized by a one-step reaction. The chemical structure of PPSO was confirmed by Fourier transform infrared (FTIR), 31 P nuclear magnetic resonance ( 31 P NMR), and 29 Si nuclear magnetic resonance ( 29 Si NMR). The flame-retardant effect of PPSO on the polycarbonate (PC) matrix was investigated by limiting oxygen index, UL-94 vertical burning test, and cone calorimetry, respectively. The results showed that PC/PPSO composites passed UL-94 V-0 rate testing with only 1.3 wt. % PPSO. Furthermore, the incorporation of PPSO can suppress the release of smoke. The flame-retardant mechanism was also investigated via thermogravimetric analysis-fourier transform infrared spectroscopy (TG-FTIR), field-emission scanning electronic microscopy (FE-SEM), X-ray photoelectron spectroscopy (XPS) and Raman spectroscopy. From the result of pyrolysis gas and char residue, PPSO played a synergistic flame-retardant mechanism including the gas phase and the condensed phase.Polymers 2019, 11, 1977 2 of 12 and it was used together with 9,10-dihydro-9-oxa-10-phosphaphenanthrene-10-oxide (DOPO) to fabricate a flame-retardant system for epoxy resins (EP) [20]. When 3% PSiN and 7% DOPO were incorporated, the LOI value of EP was found to be 34% and the UL-94 test was found to be class V-0. The microstructures observed by scanning electron microscopy and FTIR indicated that the surface of the char for the EP/DOPO/PSiN system holds a more cohesive and dense char structure when compared to the pure EP and EP/DOPO systems. Many works have been performed on the compounds containing two or more flame-retardant elements including phosphorus, nitrogen, sulfur, and boron [21][22][23][24][25]. However, few studies have reported on flame retardants containing both phosphorus and silicon, and the weight ratios of the flame retardants were too high [26,27]. For example, Yang group designed a novel polyhedral oligomeric silsesquioxane containing 9,10-dihydro-9-oxa-10-phosphaphenanthrene-10-oxide (DOPO-POSS) and incorporated it into the PC matrix, and the PC/DOPO-POSS composites passed UL-94 V-0 rate testing, but the weight ratio (6 wt. %) of the flame retardant was relative high [26]. Recently, a polymer flame retardant named HSPCTP has been prepared by our group and incorporated into the PC matrix, and the PC/HSPCTP composites passed UL-94 V-0 rating testing with only 3 wt. % HSPCTP [13]. This excellent property resulted from the synergistic effect of a gas phase flame retardant and condensed phase flame. These results suggest that phosphorus and silicon are a good combination to prepare a flame retardant. But the synthesis of this flame retardant is complicated. Therefore, it is worth preparing a high efficient flame retardant with a simple method.In this study, a novel oligomer flame retardant containing phosphorus and silicon was synthesized by a one-step reaction and then blended with PC. Combining the advantages of ph...