The potential of bamboo green (B), an abundant lignocellulosic residue from the bamboo processing industry, was evaluated to serve as an alternative fibrous raw material in the production of fiberboard. Urea-formaldehyde resin-bonded fiberboards were prepared from B, wood fiber (W), and a mixture of the two (BW). The board type depended on the mass fraction of B in fibrous raw materials (including B and W), which were 0%, 20%, 40%, 60%, 80%, and 100%. The analytical methods used to characterize fibers and fiberboards included X-ray diffraction, thermogravimetric analysis, dynamic mechanical analysis, contact angle analysis, physical-mechanical analysis, and scanning electron microscopy. Compared with W, B showed a higher crystallinity index and thermogravimetric stability, but lower surface hydrophilicity and weaker interactions with urea-formaldehyde resin. Compared with W fiberboards, B fiberboards possessed a lower interfacial adhesion but fibrous raw materials in B fiberboards were better dispersed; moreover, B fiberboard displayed a higher dynamic viscosity, thermogravimetric stability, surface wettability, water absorption, and flexural modulus, but lower thickness swelling and flexural strength. The fiberboards produced with BW had better performances than the fiberboards produced with B and W. The 40% B mass fraction resulted in BW fiberboards with the best physical-mechanical properties.