Gypsum particleboard (GPB) has high thickness swelling (TS), high water absorption (WA), and low mechanical properties compared with cement-bonded particleboard. The properties of GPB were improved by adding cement. The experimental results showed that GPB with the added cement had good physical and mechanical properties compared with those of gypsum particleboard with no added cement. The TS and WA of gypsum particleboard with added cement were reduced by 10%. The mechanical properties of GPB, such as internal bond strength (IB), modulus of rupture (MOR), and modulus of elasticity (MOE), increased when the GPB was made with added cement. The properties of GPB improved relative to the quantity of cement added. With an increase of cement content from 5% to 10%, the TS and WA were reduced, and the IB, MOR, and MOE were increased. In contrast, the TS and WA increased and the IB, MOE, and MOR decreased when the cement content was increased from 15% to 30%. Thus the physical and mechanical properties of GPB were successfully improved when the added cement content was 10%.