Three sizes（A, B and C） and 10%, 20% and 30% of usage of waste newspapers were respectively mixed with wood particle by weight and formed as center layers of composite panels. Physical and mechanical properties of specimens of the panels were evaluated. Test results showed that modulus of rupture（MOR）, modulus of elasticity（MOE） and internal bonding strength（IB） of the panels increased at beginning and then decreased with increase of waste newspaper sizes, and decreased with increase of waste newspaper usage. Thickness swelling rate（TS） of the panels increased with increase of both of wastepaper size and usage.