The invention discloses a flame retardant compound containing main resin and a curing agent, wherein, the main resin is bisphenol-A phenolic epoxy resin and the curing agent is phenolic resin and the compound also contains tetrabromobisphenol A. The invention also provides a preparation method of the flame retardant compound, a copper clad panel using the flame retardant compound and a preparation method thereof. The main resin and the curing agent of the flame retardant compound provided by the invention adopt the combination of the bisphenol-A phenolic epoxy resin and the phenolic resin andcan effectively improve the heat resistance and lower the water absorption of the copper clad panel made from the compound. In addition, the tetrabromobisphenol A contained in the flame retardant compound has the effects of flame retarding as well as curing to the bisphenol-A phenolic epoxy resin, thus lowering the mobility of the bisphenol-A phenolic epoxy resin and effectively solving the problem of gummosis during the lamination of a prepreg and a copper foil.