Disclosed is a thermofusible and thermosetting phenol resin powder having an average particle diameter of not more than 20 [mu]m and a single particle ratio of not less than 0.7. This phenol resin powder preferably has an average particle diameter of not more than 10 [mu]m, a variation coefficient of the particle size distribution of not more than 0.65, a particle sphericity of not less than 0.5 and a free phenol content of not more than 1000 ppm. Also disclosed are a dispersion liquid of such a phenol resin powder, and a method for producing a phenol resin powder having such characteristics.