Abstract The properties of HCO and its application as a monopropellant were described. In comparison with HMX, it is also a high energetic explosive with high thermostability and can be used as an oxidizer in solid rocket propellants. Theoretical specific impulse of HCO‐double base propellant systems were calculated and the burning rates and thermostability of propellant were experimentally determined. Propellants were prepared with a spray‐casting process. As an oxidizer in solid rocket propellant, HCO shows better characteristics under certain aspects compared with HMX.