Hydrothermal carbonization (HTC) is effective method for improving fuel properties of biomass. Investigating the relationship between the HTC severity and the physicochemical properties of hydrochar is beneficial for the large-scale utilization. The fixed carbon index (FCI) based on the hydrothermal carbonization severity is introduced to predict the physicochemical properties, pelletization and combustion performance of hydrochar. The results showed the relationship between decarbonization, dehydrogenation, deoxygenation and FCI fits exponential function. It was predicted that the hydrochar pellets with FCI = 0.15–0.45 possessed the highest bulk density (>1175 kg/m3), the lowest specific energy consumption (<16.07 kJ/kg) and the strongest radial compressive strength (>10.7Mpa). Moreover, the activation energy of hydrochar combustion in FCI (0.15–0.25) is higher (the maximum is 216 kJ/mol). The study provides based datas for predicting the fuel properties of hydrochar and obtains high quality solid fuel.