The glass transition temperatures of epoxy-based shape memory polymers (SMPs), which contain a flexibilizer at various contents of 0%, 5%, 10% and 15% respectively, are determined through DMA tests. The shape memory effect of such materials is investigated through shape recovery experiments. Experimental results show that the content of flexibilizer has much influence on the shape memory effect of epoxy-based SMP. A shape recovery equation is developed based on the results of shape recovery experiment. Numerical calculations show that the developed shape recovery equation well predicts the shape recovery behaviors of epoxy-based SMP.