Southern pine (Pinus sp.) wood cubes were treated with ACQ solutions with wax modification and post-treated at 70 °C for 10 h with hot air circulation. The effects of wax concentrations in ACQ-treated southern pine on its dimensional stability and copper leaching performance were investigated. The ACQ/wax-treated wood exhibited improved water resistance during the water soak process. The testing of swelling and shrinkage performance of the treated wood showed that samples with a higher percentage of wax had higher resistance to water swelling and shrinkage. The samples with a lower percentage of wax addition had only a slight effect on the moisture swelling and shrinkage resistance. As a result, copper leaching from ACQ/wax-treated wood with a 2% wax concentration was reduced to a lower level compared to ACQ-treated wood. When the proportion of wax in ACQ preservative was less than 1%, a higher percentage of copper was leached from treated wood.