The properties of particleboards and the course of their manufacturing process depend on the characteristics of wood particles, their degree of fineness, geometry, and moisture content. This research work aims to investigate the physical properties of wood particles used in the particleboard production in dependence on their moisture content. Two types of particles currently used in the production of three-layer particleboards, i.e., microparticles (MP) for the outer layers of particleboards and particles for the core layers (PCL), were used in the study. The particles with a moisture content of 0.55%, 3.5%, 7%, 10%, 15%, and 20% were tested for their poured bulk density (ρp), tapped bulk density (ρt), compression ratio ( ), angle of repose (αR), and slippery angle of repose (αs). It was found that irrespective of the fineness of the particles, an increase in their moisture content caused an increase in the angle of repose and slippery angle of repose and an increase in poured and tapped bulk density, while for PCL, the biggest changes in bulk density occurred in the range up to 15% of moisture content, and for MP in the range above 7% of moisture content, respectively. An increase in the moisture content of PCL in the range studied results in a significant increase in the compression ratio from 47.1% to 66.7%. The compression ratio of MP increases only up to 15% of their moisture content-a change of value from 47.1% to 58.7%.