It remains a challenge to prepare flame-retardant composites via the addition of a low content of flame retardant. In this work, a novel DOPO-functionalized reduced graphene oxide hybrid (DOPO-M-rGO) flame-retardant system was synthesized for epoxy resin (EP). The phosphorus-nitrogen-reduced graphene oxide ternary synergistic effect provided DOPO-M-rGO with high flame-resistance efficiency in EP; thus, the EP-based composite exhibited superior fire-resistant performance at extremely low DOPO-M-rGO loading. The limiting oxygen index (LOI) of the EP-based composite was increased from 25% to 32% with only 1.5 wt% DOPO-M-rGO addition, and the peak heat release rate (pHRR), total heat release (THR), and total smoke production (TSP) were significantly decreased by 55%, 30%, and 20%, respectively. In addition, as a halogen-free flame-retardant system, DOPO-M-rGO presents great application potential as an eco-friendly additive for the flame-resistance improvement of thermosetting polymer materials.