Maleic anhydride, 9, 10‐dihydro‐9‐oxa‐10‐phosphaphenanthrene‐10‐oxide, and 1, 3, 5‐triglycidyl isocyanurate functionalized graphene oxide (GO) was prepared in this paper. The resultant phosphorus‐nitrogen functionalized GO called GOMT was homogeneously dispersed and incorporated into diglycidyl ether of bisphenol A to prepare composites. The char residue of GOMT/EP composites increased and its LOI value increased to 28.1% with UL‐94 V‐1 rating. T
g of composite containing 1 phr GOMT increases to 165.6 °C, and the storage modulus of the sample with 3 phr GOMT was increased by 19% compared with pure EP. Furthermore, the elastic modulus and flexural strength of epoxy composite with 5 phr GOMT were increased by 17.9 and 26.7% at room temperature, respectively. Besides, the incorporation of GOMT into EP significantly reduces the PHRR and THR of the matrix. Therefore, the as‐designed GOMT not just obviously enhances the flame retardancy with low loading but raises the mechanical behavior and thermal stability of epoxy resins. © 2019 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2020, 137, 48761.