Enzymatic　hydrolysis　lignin　(EHL)　was　liquefied　in　the　mixed　solvents　of　polyethylene　glycol　(PEG)　400　and　glycerol　at　130°C　with　sulfuric　acid　as　a　catalyst　agent　to　get　EHL-polyol.　Then　EHL-polyol　was　used　to　synthesize　modified　phenol-formaldehyde　resin　(PF).　EHL-polyol　and　modified　PF　resin　were　characterized　by　FT-IR.　The　viscosity,　solid　content,　free　phenol　content,　free　formaldehyde　content　and　bonding　strength　were　investigated.　The　results　show　that　the　solid　content,　pH　value,　bonding　strength,　free　phenol　content　and　free　formaldehyde　content　of　the　EHL-polyol　modified　PF　resin　meet　the　demands　of　National　Standard　GB　9846.1-12-88　when　5%-25%　phenol　was　replaced　by　EHL-polyol.　When　the　content　of　EHL-polyol　increases,　the　solid　content　increases,　pH　value　decreases,　the　wet　strength　first　decreases　and　then　increases,　and　the　dry　strength　first　increases　and　then　reduces　quickly.