The particleboard industry consumes large amounts of raw material, and this type of product consumption has been increasing over the last few years. The research for alternative raw materials becomes interesting, since most of the resources come from planted forests. In addition, the investigation of new raw materials must take into account environmentally correct solutions, such as the use of alternative natural fibers, use of agro-industrial residues, and resins of vegetable origin. The objective of this study was to evaluate the physical properties of panels manufactured by hot pressing using eucalyptus sawdust, chamotte, and polyurethane resin based on castor oil as raw materials. Eight formulations were designed with variations of 0, 5, 10, and 15% of chamotte, and two variations of resin with 10% and 15% of volumetric fraction. Tests of gravimetric density, X-ray densitometry, moisture content, water absorption, thickness swelling, and scanning electron microscopy were carried out. Through the results it can be noticed that the incorporation of chamotte in the manufacture of the panels increased the water absorption and the swelling in thickness, around 100% and the use of 15% of resin decreased, more than 50%, the values of these properties. X-ray densitometry analyzes showed that the addition of chamotte alters the density profile of the panel. In addition, the panels manufactured with 15% resin were classified as P7, the most demanding type on EN 312:2010 standard.