Hollow glass microbead/silicone rubber composite coatings were prepared to improve the heat‐resistance and mechanical properties of silicone rubber‐based composites, using CE modified SR as the matrix and HGM as the filler. The microscopic morphology and thermal stability of the composites were characterized by scanning electron microscopy (SEM) and thermogravimetric analyzer (TGA), respectively. The results showed that the thermal stability of the composites increases with the increase of filler content. For the composite sample with a HGM mass content of 16.7%, the initial decomposition temperature (T5) is 408°C, which is 84°C higher than that of silicone rubber. The low density and high sphericity of HGM make it easier to uniformly disperse in the polymer matrix. In addition, compared to silica, which is commonly used as an inorganic filler, the lower thermal conductivity of HGM is also beneficial for achieving better thermal shielding effect. It is confirmed that the insufficient thermal stability of the polymer matrix above 400°C can be compensated for by the properly dispersed inorganic fillers. Therefore, the thermal stability of the composite is improved by the synergistic effect of modified heat‐resistant matrix and inorganic filler.