In this work, new partially substituted derivatives of octa(3-thiopropyl)silsesquioxane (SSQ-8SH) were synthesized. The article compares the thiol-ene reaction using two methods: radical mechanism, thermally initiated (AIBN), and in the presence of a photoinitiator (DMPA). Both the crystalline and the oil forms of SSQ-8SH were functionalized. Olefins with nonpolar alkyl groups (hexene, octene, and octadecene) and vinyltrimethoxysilane, allyl glycidyl ether, allyl 2,2,3,3,4,4,5,5-octafluoropentylether, allyl methacrylate, and styrene were used in the reactions, allowing to obtain seven new derivatives. All compounds were characterized using spectroscopic (1H NMR and 29Si NMR) and spectrometric (MALDI-TOF-MS) methods. The influence of functional groups on the water contact angle value was determined. The functionalization of the compound led to a contact angle value above 95° (SSQ-4SH-4OD). Density measurements and thermogravimetric analysis (TGA) were carried out for all compounds. The highest onset temperature (357.4 °C) and temperature at the maximum mass loss rate (377.3 °C) were observed for SSQ-SH-4OD. The addition of alkyl groups significantly decreased the density of compounds with increasing chain length (1.198 g/cm3; 1.162 g/cm3; 1.095 g/cm3 for hexene, octene, and octadecene, respectively). Silsesquioxanes have potential applications in various materials, such as UV-curable resins, allowing to modify, for example, their surface properties. Modification of a commercial photocurable resin with selected derivatives was carried out to determine the impact on physicochemical properties (TGA, WCA).