A composition for forming an insulating substrate includes 100 parts by weight of a modified
liquid crystal polymer and 0.5 to 85 parts by weight of a
dielectric filler. The modified
liquid crystal polymer has a repeating
unit structure shown in the specification, Ar is 1, 4-
phenylene group, 1, 3-
phenylene group, 2, 6-naphthyl or 4, 4 '-biphenylene group, Y is-O-or-NH-, and X is-O-or-NH-. And X is an
amide group, an imino group, an amidino group, an aminocarbonylamino group, an aminothiocarbonyl group, an aminocarbonyloxy group, an aminosulfonyl group, an aminosulfonyloxy group, an aminosulfonylamino group, a
carboxylic acid ester, a (
carboxylic acid ester) amino group, a (alkoxycarbonyl) oxy group, an alkoxycarbonyl group, a hydroxyamino group, an alkoxyamino group, a cyanoxy group, an
isocyanate group, or a combination thereof. The insulating substrate formed by using the composition can be applied to forming a circuit
board structure. The composition can improve the
dielectric constant of the insulating substrate and maintain a relatively low
dielectric loss factor.