Reducing the density of wood-based materials is a desirable research direction in the development of the wood-based materials sector. Even though lightweight wooden particleboards have been commercially available for many years, they still have a number of disadvantages, especially their low strength parameters. The aim of this paper was to determine the possibility of producing particleboards of reduced density for use in the furniture industry, as a result of using expanded polystyrene and two types of microspheres (expanded and unexpanded) to modify the core layer of three-layer particleboards. Analysis of the results of testing the particleboards’ properties when using various types of modifiers (expanded and unexpanded fillers), urea formaldehyde (UF) glue content (high: 10%/12% and low: 8%/10%), various glue-dosing methods, and different particle sizes, allows us to conclude that the most satisfactory effect was found when using EPS. One partly positive effect was observed when using the Expancel-type 031 DU 40 as a filler; therefore, it is recommended that research be continued in this area. Using microspheres that have not been used before as a filler in the production of wood-based panels is the novelty of the presented research. The proposed technology has potential for application in the industry.