A modified dimethylnaphthalene formaldehyde resin is disclosed, which is excellent in heat resistance and useful for thermosetting resins which are used for an electrical insulating material, a resin for resist, a semiconductor sealing resin, an adhesive for printed wiring board, a matrix resin for electrical laminate or prepreg to be mounted in electrical instruments, electronic instruments, industrial instruments, etc., a buildup laminate material, a resin for fiber-reinforced plastic, a sealing resin for liquid crystal display panel, a paint, a variety of coating agents, an adhesive, a laminate for electrical or electronic parts, a molded article, a coating material, a sealing material and the like, the modified dimethylnaphthalene formaldehyde resin being obtained by modifying a polyfunctional dimethylnaphthalene formaldehyde resin having a constituent unit represented by the following general formula [1] in a molecule thereof with at least one member selected from the group consisting of a phenol represented by the following general formula [2], a naphthol represented by the following general formula [3] and a naphthol represented by the following general formula [4] (provided that at least any of the naphthol represented by the general formula [3] or the naphthol represented by the general formula [4] must be included).