The main production process parameters of ultra-low-density fiberboard (UDF) were selected by use of response surface methodology, and then the properties of UDF were improved by adding a coupling agent. Microstructures and chemical bonding in UDF were analyzed by scanning electron microscopy and infrared spectroscopy. The results showed that the desirable process parameters for UDF production were the amount of urea-formaldehyde resin adhesive (18%), the hot pressing temperature (170 °C), the hot pressing time (200 s), and the amount of KH560 coupling agent added (1%). The main physical and mechanical properties of UDF obtained included internal bond strength (0.59 MPa), modulus of rupture (19.8 MPa), and 24h thickness swelling (10.0%). These properties exceeded the requirements of ISO 16895 (2016).