A novel silicon-containing arylacetylene resin (MSAR) modified by dipropargyl ether of bisphenol A (DPBPA) and dipropargyl ether of perfluorobisphenol A (DPPFBPA) was prepared separately. The curing behaviors of modified resins, DPBPA/MSAR and DPPFBPA/MSAR, were characterized with differential scanning calorimeter (DSC). The kinetic parameters of modified resins were obtained by the Kissinger and Ozawa methods. The results of dynamic mechanical analysis (DMA) revealed that the glass transition temperature ($T_g$) of the cured DPBPA/MSAR reached $486^{circ}C$. According to the thermogravimetric analysis (TGA), the decomposition temperature ($T_{d5}$) of the cured resins and char yield ($Y_c$, $800^{circ}C$) decreased as the dipropargyl ether loadings increased, especially in air. With the same weight loading, thermal stability of DPBPA/MSAR was better than that of DPPFBPA/MSAR. The carbon fiber (T300) reinforced composites exhibited excellent flexural properties at room temperature with a high property retention at $300^{circ}C$.