The invention discloses a thermoset resin composition, comprising the following ingredients of: bifunctional groups or polyfunctional group epoxy resin, phenylethylene-maleic anhydride copolymer (SMA) as a curing agent, diallyl bisphenol A-like allylphenol as a co-curing agent and a toughening agent, low-bromine or high-bromine BPA-type epoxy resin or tetrabromobisphenol A (TBBPA or TBBA) as a fire retardant, a proper accelerator and a solvent. The inventive resin composition has, after being cured, relatively low dielectric property and superior thermal reliability and toughness, includes, in contrast to a cooper clad laminate manufactured by reinforcing materials such as glass fiber cloth, relatively low dielectric constant (called Dk for short) and electric loss tangent (called Df for short), high Tg, high thermal cracking temperature (called Td for short), excellent toughness and favorable PCB processibility, is quite suitable for manufacturing the cooper clad laminate for PCB and prepreg, and can also applied to general uses of the epoxy resin, such as molding plastics and the like, and to composite materials for construction, automobile and aviation.