The objective of the work was to improve the leaching resistance of fire-retardant (FR) modified wood by the incorporation of a thermoset resin. Here, Scots pine (Pinus sylvestris L.) sapwood was impregnated with melamine formaldehyde (MF) resin and hydrophilic FRs guanyl-urea phosphate/boric acid by a vacuum-pressure treatment. Resistance to leaching of FR-modified wood was evaluated, after conducting an accelerated aging test according to European standard EN 84. Inductively coupled plasma analysis showed that the incorporation of MF resin significantly reduced the leachability of FRs. Scanning electron microscopy/energy-dispersive X-ray spectrometry revealed that the mechanism of water resistance was by doping the FRs into MF resin microspheres. Fourier transform infrared spectra showed the chemical functionality changes of FR-modified wood such as the formation of methylene bridges by drying the modified wood specimens. An increase in the thermal stability of FR-modified wood was confirmed by thermal gravimetric analysis. Excellent fire performance of FR-modified wood after leaching was affirmed by the limiting oxygen index and cone calorimeter tests.