Agricultural waste such as sugarcane bagasse is abundant in Malaysia and at present is mainly used as combustible material for energy supply in the sugar factory. This study was conducted to investigate the possibility of manufacturing composite panel from sugarcane bagasse at three density levels (450, 550, 650 kg/m3), two resin content (10 and 12%) and with or without wax (1%) addition. The panel produced were tested for mechanical properties (modulus of elasticity and modulus of rupture) and physical properties (water absorption and thickness swelling) conforming to the British standard (BS EN 310 and BS EN 317). The results revealed that board with density 650kg/m3 gave superior strength compared to those of 450kg/m3 and 550kg/m3 densities. The addition of 1% wax helped to improve the water absorption and thickness swelling of the composite panel. Thus, it can be concluded that composite panel can successfully be produced from sugarcane bagasse as the main source of raw materials.