Due to the enhancement of people’s environmental awareness, flame-retardant epoxy resin (EP) tends to be non-toxic, efficient, and multi-functional, and its development is systematic. At present, many new flame retardants or intrinsic modification methods reported in studies can effectively improve the flame retardability and thermal stability of EP. However, many aspects still need to be further improved. In this review, the flame-retardant mechanism and method of flame-retardant epoxy resins are briefly analyzed. The research progress of the flame-retardant modification of epoxy resin by physical addition and chemical reaction is summarized and discussed. Furthermore, the research trend of flame-retardant epoxy resin in the field of fire-protective coatings is discussed, and future problems in this field are put forward. This work may provide some new insights for the design of multi-functional integrated epoxy resin fireproof coatings.