To provide a phenolic resin composition excellent in the balance of cure rate and heat resistance and preventing curing inhibition even in blending of basic fillers by using substantially no hexamethylenetetramine.

The phenolic resin composition comprises a novolak-type phenolic resin (a), a polyacetal resin (b) and an organic base compound (c) as essential components and comprises substantially no hexamethylenetetramine. Preferably, the organic base compound (c) contains phosphorus and/or nitrogen and further contains a compound having a boiling point of 150°C or higher.