A radiation shielding resin with thermal stability and high radiation shielding effect has been developed for the neutron shielding resin filled in the shielding shell of dry storage/transport cask for spent nuclear fuel. Among the most commercially available neutron shielding resins, epoxy and aluminum hydroxide boron carbide are used. But in case of the resin, hydrogen content enhances the neutron shielding effect through optimization of aluminum hydroxide, zinc borate, boron carbide, and flame retardant. We developed a radiation shielding material that can increase the boron content and have thermal stability. Flame retardancy was evaluated for thermal stability, and neutron shielding evaluation was conducted in a research reactor to prove the shielding effect. As a result of the UL94 vertical burning test, a grade of V-0 was received. Therefore, it was confirmed that it had flame retardancy. According to an experiment to measure the shielding rate of the resin against neutron rays using NRF (Neutron Radiography Facility), a shielding rate of 91.54% was confirmed for the existing resin composition and a shielding rate of 96.30% for the developed resin composition. A 40 M SANS (40 M Small Angle Neutron Scattering Instrument) neutron shielding rate test was performed. Assuming aging conditions (6 hours, 180 degrees), the shielding rate was analyzed after heating. As a result of the experiment, the developed products with 99.8740% and 99.9644% showed the same or higher performance.