The invention belongs to the technical field of resin with low dielectric property and discloses a vinylbenzyl etherified-DOPO (9, 10-dihydro-9-oxa-10-phosphenanthrene-10-oxide) compound resin composition as well as a preparation method and application of the vinylbenzyl etherified-DOPO compound resin composition. The composition contains vinylbenzyl etherified-DOPO compound resin and vinyl polyphenyl ether resin. The vinylbenzyl etherified-DOPO compound resin with low dielectric property can be obtained through carrying out vinylbenzyl etherification on DOPO resin, and the vinylbenzyl etherified-DOPO compound resin has no hydroxyl, so that no hydroxyl functional groups can be generated in a cross-linking reaction process; the vinylbenzyl etherified-DOPO compound resin contains phosphorus atoms so as to have a flame retardant effect. The vinylbenzyl etherified-DOPO compound resin composition with low dielectric property and low dielectric loss is obtained through compounding the prepared vinylbenzyl etherified-DOPO compound resin and the low-dielectric vinyl polyphenyl ether resin without hydroxyls; the vinylbenzyl etherified-DOPO compound resin composition can have excellent dielectric property and flame retardant effect when being applied to a metal laminated plate and a printed circuit board.