Ladder-like structured poly(phenyl-co-glycidoxypropyl) silsesquioxanes with different ratios of phenyl to glycidyl group (LPS64 and LPS 82) were synthesized using simple hydrolysis reaction followed by condensation polymerization of phenyltrimethoxysilane (PTMS) and (3-glycidyloxypropyl)trimethoxysilane (GPTMS). Two series of hybrid polyimide composites (PI/LPS64 and PI/LPS82) with different contents of LPS (10, 20, and 30 wt%) were prepared by the chemical reaction of epoxy groups in LPS64 or LPS82 and the terminal amine groups in poly(amic acid). The dielectric constant (k) of hybrid PI composites (k = 1.3) was lower than that of pure polyimide (k = 2.9) and the degree of roughness was increased according to the increase of LPS contents. The dispersion of LPS in the PI matrix was improved due to the chemical bonding between LPS and PI. The thermal stability of PI/LPS82 was higher than that of PI/LPS64 due to the enhanced π-π stacking between PI matrix and LPS82 with more phenyl groups as compared to LPS64.