A process for producing a curable resin which comprises reacting (a) at least one cyanate ester compound selected from the group consisting of polyfunctional cyanate esters having 2 or more cyanate groups per one molecule, prepolymers of the cyanate esters or mixtures thereof with (b) at least one compound having at least one 1,2-epoxy group and at least one radical-polymerizable unsaturated double bond, the ratio of the cyanate group of (a) to the 1,2-epoxy group of (b) being in the range of about 1:0.25 to about 1:2, in contact with (c) a radical polymerization inhibitor at a temperature of about 140.degree. C.