Concerns for the environment and for human health have become critical factors that motivate creating bio-based wood adhesives. Therefore, this study proposes replacing toxic chemicals with alternative adhesives. In the first step, glycerol was added to the natural phenolic compounds from liquefaction of palm kernel shell (PKS), having a high content of lignin. The obtained glycerol-based liquefied PKS, and its blend with citric acid, were tested for bonding in a study on the effects of hot-pressing conditions (temperature and time). The results revealed that the liquefaction system in this study achieved an 83% conversion of the PKS components into glycerol-based liquefaction. According to the Fourier transform infrared and carbon-13 nuclear magnetic resonance analyses, the glycerol-based PKS contained lignin derivatives and furan products. This accounted for its great performance in bonding rubberwood veneers. The tensile shear strength was improved by blending with 15% citric acid, especially when applying the high 190 °C pressing temperature for 15 min.