A novel type of phosphazene containing additive that act both as catalyst and as flame retardant for benzoxazine binders is presented in this study. The synthesis of a derivative of hexachlorocyclotriphosphazene (HCP) and meta-toluidine was carried out in the medium of the latter, which made it possible to achieve complete substitution of chlorine atoms in the initial HCP. Thermal and flammability characteristics of modified compositions are revealed. The modifier catalyzes the process of curing and shifts the beginning of reaction from 222.0 C for pure benzoxazine to 205.9 C for composition with 10 phr of modifier. The additive decreases the glass transition temperature of compositions. Achievement of the highest category of flame resistance (V-0 in accordance with UL-94) is ensured both by increasing the content of phenyl residues in the composition and by the synergistic effect of phosphorus and nitrogen. Brief research of the curing kinetics disclosed the complex nature of the reaction. An accurate two-step model is obtained using extended Prout-Tompkins equation for both steps.