The present disclosure relates to a modified bismaleimide prepolymer, a preparation method thereof, and use thereof. The modified bismaleimide prepolymer is prepared from raw materials comprising a bismaleimide resin and a modifier. The modifier is a 4,4′-bis(allyl-benzoic acid) biphenyl ester-based allyl compound, or a combination of the 4,4′-bis(allyl-benzoic acid) biphenyl ester-based allyl compound and another type of bismaleimide resin modifier.