This study was carried out to discuss feasibility of high density polyethylene(HDPE) as a new substitute for the conventional adhesives in plywood manufacture. Plywood was composed of radiata pine(Pinus radiata) and Malas(Homallium feotidium) veneers and bonded by HDPE. Adhesion characteristics and anatomical scanning has been examined through tensile-shear strength test and scanning electron microscopy(SEM). The results are as follows; 1. Optimum loading quantity was 15g/$(30.3{ imes}30.3)cm^2$, and tensile-shear strength increased with the increase of loading quantity. 2. Even at the hot pressing time of 1 minute, tensile-shear strength met the value of KS(over the 7.5kgf/$cm^2$), and tensile-shear strength increased with the increase of hot pressing time. 3. Plywood composed of veneer at moisture content of 19.6% showed similar tensile-shear strength to that at air conditioned moisture content of 11.4%. 4. Under the same condition of hot pressing time, tensile-shear strength of plywood bonded by HDPE met the KS value of boil and wet test and proved the same group as phenol formaldehyde adhesive. 5. HDPE films showed mechanical adhesion through penetration into the lathe check and ray of veneer.