The invention belongs to the technical field of low dielectric resin compositions, and discloses a low dielectric resin composition with phosphorus-containing flame retardant and a prepreg, resin film, laminate and printed circuit board prepared therefrom. The composition comprises the following components: (A) phosphorus-containing flame retardant; (B) vinyl compound. The phosphorus-containing flame retardant has a structure as shown in formula (I). In the present invention, diphenylphosphine oxide is derivatized, and prepared a phosphorus-containing flame retardant, which has no reactive functional groups, has better dielectric properties, and has high melting point, and upon combining with a vinyl compound, a resin composition is obtained, and a laminate having low thermal expansion ratio, high heat resistance, high glass transition temperature, and low dielectric constant and dissipation factor, can be made from the resin composition, and can effectively achieve the flame resistance effect of UL94 V-0 without using halogen-containing flame retardant, and can be used in the preparation of prepregs, resin films, resin coated coppers, flexible resin coated coppers, laminates and printed circuit boards.