Abstract To promote the application of silicone rubber in the electronics industry, it is urgent to improve its thermal stability and flame retardancy. In this work, iron oxide nanoparticle in-situ decorated boron nitride nanosheet (FeBN) was fabricated via sol–gel method and then incorporated into addition-cure liquid silicone rubber (ALSR). It was found that FeBN uniformly dispersed in polymer and effectively improved the thermal stability and flame retardancy of ALSR. With only 2.0 phr FeBN, the T10 and LOI of ALSR were increased to 438.2 °C and 28.5%, respectively, which was attributed to the synergism of free-radical quenching capability and layer barrier effect.