The features of wood packaging material were studied in microstructure view according to the theory of modern packaging material design. A new wood packaging material, heterotype molded packaging material, with independent intellectual property was developed. The causes of changes of physical and mechanical parameters of the material after molded were analyzed qualitatively. The influences of shaving size, micron degree, veneer condition, and glue condition on the material were given quantitatively. The theoretical formulas were validated with experiments, which confirmed the advantages of heterotype molded packaging material and gave the quantitative demarcation in strength.