Rubberwood flour (RWF) was treated by alkaline, silane, and alkaline–silane, and consequently, reinforced recycled polypropylene (rPP) composites. The wood–plastic composites (WPCs) were prepared with 40 wt% RWF content using a twin-screw extruder, followed by compression molding. Silane treatment was applied at various concentrations and treatment times to evaluate the effect of treatment conditions on water absorption, mechanical properties, thermal properties, and morphological characterization of WPCs. The results indicated that alkaline–silane treatment of RWF exhibits higher properties in comparison to silane or alkaline only. In addition, silane concentrations significantly affected water absorption, mechanical strength, and hardness, while treatment times remained relatively unaffected by these properties. The best water resistance, mechanical strength, and hardness of WPCs were achieved by alkaline–silane treatment with 5% silane concentration for 2 h, which improved the interfacial adhesion of RWF and rPP as well as increased the crystallinity in the WPCs.