A new kind of engineered wood flooring substrate was developed made from plantation poplar and eucalyptus veneers as face layers and eucalyptus wood strips as core materials. Dimensional stability of the substrate was compared with that of three-layer parquet and multi-layer engineered wood flooring made from poplar and eucalyptus veneers. The results showed that the new substrate had less moisture absorption and swelling rate as well as less warping than the controls. Optimum structure of the new substrate was obtained when the substrate was composed of eucalyptus veneers as the face layer,eucalyptus wood strips as the core layer, and popular veneers as the back layer and edge-glued longitudinally with 2.5 mm×16 mm eucalyptus wood strips.