In the present work, the mechanical behavior of flax fiber reinforced polymers (FFRPs) intended for racing applications is evaluated when subjected to different environmental conditions. A significant drop of mechanical performance in the presence of water (both 100% relative humidity and water submersion) is observed, highlighting also the fact that panels themselves already contain a fraction of water, probably absorbed onto the flax fibers prior their impregnation with the resin, that, where removed, may influence the mechanical behavior. Moreover, the flame behavior of the FFRP composite is also assessed in comparison with the widely applied carbon fiber reinforced polymers (CFRPs) to highlight the effect of the different reinforcement. Both FRPs are produced with the same flame retarded resin to highlight the contribution of the different reinforcement. The evaluation of the flame behavior of the FFRP panels shows that it completely burns during the cone‐calorimetric test, involving in the fire both the matrix and the reinforcement with a stronger and faster heat release than the corresponding CFRP based on the same resin. The above observations seem thus to discourage their use in critical conditions, where the decrease of mechanical performance and the event of fire incidental condition may dramatically and negatively affect the final application.