［Objective］ A thermosetting phenolic resin CAPF was prepared using bio-based cardanol-modified m-cresol and toughened，aiming to develop a high-performance protective coatingresin with both excellent hardness and toughness.［Methods］The thermosetting phenolic resin CAPF was synthesized via addition and polycondensation reactions using cardanol，m-cresol，and formaldehyde as raw materials，and sodium hydroxide as alkaline catalyst. The physical properties ofresin and the properties of the coating were tested. The effects of cardanol content on the properties ofmodified phenolic resin CAPF were studied.［Results］With the introduction and increase of cardanol， the viscosity and solid content of the resin gradually increase，and the storage stability shows a trend offirst increasing and then decreasing. While the coating maintains or improves hardness and adhesion， its toughness shows a trend of first rising and then falling，reaching the best balance when the mass ratio of cardanol to m-cresol is 3∶7，with a hardness of 2H，adhesion at level 0，and impact resistance passing at 50 cm.［Conclusion］Cardanol phenol-modified phenolic resin（CAPF）was successfullyprepared，while retaining the inherent high hardness and strong adhesion of phenolic coating，the resin enhances their toughness and has considerable application potential in the field of high-performance protective coatings.