It has been a challenge to improve the performance of epoxy insulation in the whole life cycle by achieving the reduction of residual stress during manufacturing, the healing of damages during application, and the recycling after decommissioning. In this paper, a novel recyclable epoxy resin (SEP) with releasable residual stress and synergistically enhanced dielectric properties and healing ability was successfully developed by introducing dynamic thiocarbamate bonds (DTBs). A reduction in residual stresses by 45 % was detected after SEP was annealed at 30 °C below the glassy transition temperature (Tg) for 8 h, during which the mechanical properties remained unchanged. Synergistically improved dielectric properties and damage-healing ability were also observed in SEP. A high healing efficiency of 94.4 % for electrical breakdown damage was found in SEP, meanwhile its dielectric properties were superior to commercial epoxy resin. Additionally, SEP featured good recyclability, including reprocessability and degradability. All those excellent properties were ascribed to the dissociation and recombination of DTBs triggered by thermal stimulation. This work provides an effective solution to a series of issues throughout the full lifecycle of epoxy materials.