Abstract: The crosslinked network formed by the curing matrix resin of the traditional fiber reinforced composites is difficult to depolymerize, which makes the fiber reinforced composites difficult to deal with after decommissioning. In this paper, 1, 5, 7-triazide dicyclic (4.4.0) deca-5-ene was used as catalyst to synthesize the glass-like epoxy resin (Vitrimers) based on transesterification, and the recyclable basalt fiber reinforced composite (Vitrimers-based Basalt Fiber-reinforced Polymer, VBFRP) was prepared. The mechanical, electrical and thermal properties of traditional resin matrix composites (Epoxy-based Basalt Fiber-reinforced Polymer, BFRP) and VBFRP were compared. The high efficiency recovery of basalt fiber was realized by using glycol solution. The results show that the mechanical properties of VBFRP are not inferior to BFRP, and the elongation at break is higher. The increase of catalyst content makes the mechanical properties of VBFRP stronger, but excessive catalyst will lead to the decrease of the interface bonding strength of VBFRP. Compared with BFRP, the electrical properties of VBFRP are decreased. The decrease in electrical performance of VBFRP-2 is relatively low. Its breakdown strength, leakage current, and dielectric loss factor are 29.29 kV/mm, 29.88 μA and 1.66% respectively. In addition, the electrical properties of VBFRP are affected by the content of catalyst, and the appropriate content of catalyst can improve the electrical properties of VBFRP. Moreover, VBFRP has higher glass transition temperatures, but its initial decomposition temperature decreases with the increase of catalyst content, and its thermal stability decreases. After 28 days of thermal aging, the leakage current and media loss factor of VBFRP-2 are increased by 83.94% and 48.19%, respectively. The recovered basalt fiber has a clean surface and almost no resin residue. The chemical structure of the fibers does not change, and the tensile strength retention rate of the fibers can reach 90.85%.