An industrially advantageous woody molding is produced by adding a dibasic acid anhydride to a woody material such as a wood meal in the presence or absence of a catalyst such as sodium carbonate, whereby the dibasic acid anhydride is bonded to the hydroxy group of the woody material to form an esterified woody material, adding thereto a compound having at least two epoxy groups in the molecule thereof, kneading well the mixture, and then heat and press molding the kneaded mixture at a temperature higher than 120.degree. C. and a pressure greater than 60 kg/cm.sup.2.The product thus obtained by the process of this invention has a smooth and lustrous surface, has good water resistance and dimensional stability, and also is excellent in mechanical strength and hardness.