Abstract: A flame-retardant spray-foamable phenolic urethane composition comprising a polyisocyanate component, a polyol component, an urethane-forming catalyst, a blowing agent and a foam stabilizer, wherein the polyol component comprises:(1) a modified benzylic ether phenol resin obtained by adding from 20 to 100 parts by weight of a polyhydric alcohol or its alkyleneoxide adduct to 100 parts by weight of a benzylic ether phenolic resin, followed by heating under reduced pressure, and(2) other polyol, in such amounts as to satisfy the following equation:(x+y)/z=0.2-1.5wherein x is the amount by weight of the polyhydric alcohol or its alkyleneoxide adduct, y is the amount by weight of said other polyol, and z is the amount by weight of the benzylic ether phenol resin.