In order to improve the toughness of traditional epoxy resin, dibutyl phthalate (DBP) was introduced into the epoxy resin. The static mechanical performance of plasticized and unplasticized epoxy resin was evaluated. The test results showed that the DBP modified epoxy resin can obtain a higher toughness than conventional epoxy resin, but the elastic modulus and the tensile strength were slightly reduced. The low cycle fatigue test results indicated that the stress ratio and the stress level were two critical factors of fatigue life, which was increased with the growth of stress ratio. It was also found that the fatigue life of plasticized specimen was much less than that of the unplasticized specimen because of the plastic deformation. A logarithmic linear relationship was then established to predict the fatigue life for plasticized epoxy resin. The strain energy density was also applied to demonstrate the accumulation of energy loss. In addition, the fatigue toughness can be obtained by the hysteresis loop area method.