Thermosetting phenolic resins, bearing varying extents of propargyl ether groups (PN resins), have been synthesized by the Williamson reaction of a novolac with propargyl bromide and the products characterized. The resin precursors were cured through Claisen rearrangement of the propargyl ether groups and thermal polymerization. The activation energy for thermal cure is substantially lower than that of model bispropargyl ether compounds but is quite independent of the degree of functionalization. The isothermal cure pro®le, extrapolated from non-isothermal DSC kinetics studies is consistent with the results from DMA studies. The mechanical properties of glass composites of the resins, of varying propargyl contents, reveal good consolidation of the interphases, evident from the initial gain in both interlaminar shear strength (ILSS) and¯exural strength. The bene®ts of better resin±reinforcement interactions are not retained on crosslinking the resin further, wherein the composite fails by a combination of ®bre debonding and brittle fracture of the matrix. Although the resins show better thermal stability than cured resoles, a higher extent of propargylation is detrimental for the thermal stability. Resins with moderate propargylation show good mechanical and thermal properties.