In order to obtain high performance friction materials, linseed oil modified phenolic resin is synthesized via two steps: firstly, phenol and linseed oil react under acidic condition; secondly, the resultant intermediate reacts with formaldehyde under basic condition. The modification effect of linseed oil on phenolic resin is studied by means of infrared spectrum analysis, TG-DSC analysis and mechanical property test. The friction, abrasion and mechanical properties of the friction material starting from linseed oil modified phenolic resin are tested. The results show that the heat-resistance, cohesiveness and toughness of the modified resin are superior to those of the unmodified resin. The shear stress of the modified resin is 18.5 MPa, the impact strength 120.2 kJ•m–2, and Rockwell hardness 111.2 HRR. The friction coefficient values are all above 0.39 and decreased by 0.03 as increasing temperature from 250 to 350 ℃. At a temperature of 200 ℃, the wear rate is 0.30 cm3•N–1•m–1, the impact strength 780 kJ•m–2, and the Rockwell hardness 113.2 HRR. The results indicate that linseed oil modified phenolic resin is hopeful to be the resin matrix of high performance friction material.