This paper focuses on the changes in chemical structure and fiber morphological properties of spruce wood during 15 months of its storage in an open forest woodshed. From the chemical composition, the extractives, cellulose, holocellulose, and lignin content were determined. The pH value was measured on the wood surface using a contact electrode. Acetic and formic acid, saccharides (glucose, xylose, galactose, arabinose and mannose), and polymerization degree (PD) of cellulose were analyzed using the HPLC method. Fiber length and width were determined using a fiber tester analyzer. After 15 months of storage the content of both cellulose (determined by the Seifert method) and lignin did not change; the quantity of hemicelluloses decreased by 13.2%, due to its easier degradation and less stability compared to cellulose; and the pH value dropped by one degree. HPLC analyses showed a total decrease in the cellulose DP of 9.2% and in saccharides of 40.2%, while the largest decreases were recorded in the quantity of arabinose, by 72%, in the quantity of galactose, by 61%, and in the quantity of xylose, by 43%. Organic acids were not detected due to their high volatility during wood storage. The total decrease in average fiber length was 38.2% and in width was 4.8%. An increase in the proportion of shorter fibers, and a decrease in the proportion of longer fibers, was recorded. It can be concluded that fundamental changes occurred in the wood, which could affect the quality of further products (e.g., chips, pulp, paper, particleboards).