Mullite fiber felt is a promising material that may fulfill the demands of advanced flexible external thermal insulation blankets. However, research on the fabrication and performance of mullite fiber felt with high-temperature resistance and thermal stability is still lacking. In this work, mullite fibers were selected as raw materials for the fabrication of mullite fibrous porous materials with a three-dimensional net structure. Said materials’ high-temperature resistance and thermal stability were investigated by assessing the effects of various heat treatment temperatures (1100 °C, 1300 °C, and 1500 °C) on the phase composition, microstructure, and performance of their products. When the heat treatment temperature was below 1300 °C, both the phase compositions and microstructures of products exhibited stability. The compressive rebound rate of the product before and after 1100 °C reached 92.9% and 84.5%, respectively. The backside temperature of the as-prepared products was 361.6 °C when tested at 1500 °C for 4000 s. The as-prepared mullite fibrous porous materials demonstrated excellent high-temperature resistance, thermal stability, thermal insulation performance, and compressive rebound capacity, thereby indicating the great potential of the as-prepared mullite fibrous porous materials in the form of mullite fiber felt within advanced flexible external thermal insulation blankets.