Elastic constants of particleboard layers were investigated using by means of ultrasonic waves and compression tests under different humidity regimes. Three Young's modulus, three shear modulus and six Poisson ratios were determined. Three longitudinal and six shear wave velocities propagating along the principal axes of anisotropy, and additionally, three quasi-shear wave velocities at 45 degrees angle with respect to the main axes of anisotropy were measured. Compression tests were also conducted in order to measure the accuracy of ultrasonic method. Comparing with calculated values, the predicted Young's modulus values in the principle directions are acceptable. The shear values calculated using ultrasonic method are higher than those determined from compression tests, particularly in the perpendicular directions. Some of the Poisson's ratios predicted by ultrasound seem to be extreme. The influence of moisture content on Poisson's ratios is variable. It can be concluded that ultrasonic method can be used as alternative in determination of elastic modulus for particleboard layers at different moisture conditions. The accuracy of ultrasound for determining the Poisson's ratios of particleboard layers is questionable.