This paper aims to review and summarize the research progress of biomass oil-resin composite optimization technology, explore the performance evaluation method of biomass oil-resin composite materials, and provide basic knowledge and method reference for the further application and development of the material. The composition and basic properties of biomass oil-resin composite materials were analyzed. The classification and corresponding preparation processes of the material were clarified. The basic and mechanical performance of different types of biomass oil-resin composite materials was evaluated, and the biomass oil-resin composite mechanism was explained from the micro-perspective. According to the optimization goals and material ratios, biomass oil-resin composite materials can be divided into two categories: biomass oil-modified resin and resin-modified biomass oil. At present, the research focuses on biomass oil-modified resins, with massive research conducted on the synthesis of modified phenolic resin using biomass oil instead of phenol. The optimized combination of biomass oil and resin can enhance the high-temperature performance of biomass oil and improve the flexibility of resin. However, as the dosage of biomass oil increases, the tensile strength and bonding strength of composite materials continue to decrease. Based on comprehensive performance, the recommended dosage of biomass oil in composite materials is between 10% and 30%. This review can provide new ideas for the in-depth research and further promotion of biomass oil-resin composite materials, such as synthesis system optimization and preparation process updates.