In this paper, the relationships between volumetric mixing ratio of rubber chip and physical and mechanical properties of wood/rubber composite panel was examined in order to investigate the mixture characteristics of wood and rubber chip. Because of the specific gravity of rubber differed from wood chip, physical properties of wood/rubber composite panel was shown very different values by mixing rate of chip element. Specific gravity in air-dry of composite panel was increased rapidly as volumetric percent of rubber chip was increased. Moisture content of composite panel was decreased as volumetric percent of rubber chip element was increased. This results was considered that wood weight is light and porosity material for moisture absorption. Compressive strength and modulus of rupture in bending test were decreased as volumetric percent of rubber chip increased. By mixing ratio control of chip elements, various wood/rubber composite panel can be applicable to every interior materials such as subfloor, playground, and exterior materials such as road blocks for recreational facilities in garden and forest and city parks.