Resin-derived carbon foams with closed hollow spherical structure were prepared from mixtures of hollow phenolic microspheres and phenolic resin, followed by curing and carbonization. The resultant carbon foam had a bulk density of 0.45 g·cm-3. Effects of hollow microsphere on the on the compressive property and thermal conductivity of carbon foams were investigated. The results revealed that the hollow microspheres played an important role in improving compressive fracture toughness and lowering the thermal conductivity of carbon foams. The compressive fracture characteristics of carbon foam exhibited gradient brittle fracture, and the compressive strength was 10.93 MPa. The thermal conductivity of the carbon foam was 0.907 W·m-1·K-1 at room temperature, which was lowered by 49.67 % in comparison with phenolic-based vitreous carbon.