The aim of this research was to investigate the physico-mechanical, thermal, and morphological properties of cement-bonded wood particleboards produced by using fly as has a partial cement replacement and spruce planer shavings. Experimental single-layer cement-bonded wood particleboards produced using a target density of 1200 kg/m3, 1/3 wood-cement ratio, a dimension of 460x460x10 mm3 and 5%, 10%, 15%, 20% fly ash as cement replacement were tested for physical and mechanical properties in accordance with EN and ASTM standards. Moreover, morphological and thermal properties of the cement-bonded wood particleboards were analysed by using the scanning electron microscope and thermogravimetric analysis-derivative thermogravimetry. Test results indicated that the fly ash enhanced both the bending strength and water-resistance of the cement-bonded wood particleboards. Internal bond and screw withdrawal strengths tended to decrease as the fly ash content increased in the cement-bonded wood particleboards, but this decrease was not statistically significant. As the fly ash increased, the weight loss of the cement-bonded wood particleboards decreased in the thermogravimetric analysis because of the pozzolonic reaction of the fly ash with calcium hydroxide. In the scanning electron microscope, it was observed that calcium silicate hydrate gel increased, whereas calcium hydroxide decreased as the usageratio of the fly ash increased in the cement-bonded wood particleboards.