The wood chemical composition was determined for five tree species that cohabitate in the forest of Ixtlán de Juárez (Oaxaca, Mexico). These species were Alnus acuminata, Arbutus xalapensis, Myrsine juergensenii, Persea longipes, and Prunus serotina. The chemical composition was then correlated with the higher heating value of the wood. The chemical components determined were total extractives, ash, lignin, and holocellulose (alpha cellulose and hemicelluloses). The extractives were separated using Soxhlet equipment, and the ash obtained was analyzed via atomic absorption spectrometry. On average, the species presented 8.26 to 19.64% of total extractives, 0.56 to 1.50% of ash, 23.1 to 37.2% of lignin, 74.0 to 79.5% of holocellulose, 56.3 to 66.3% of α-cellulose, and 12.3 to 21.0% of hemicelluloses. In the ash, higher percentages of calcium, potassium, and magnesium were detected. The amount of chemical components was different between species (p ≤ 0.05). The higher heating value showed a positive correlation with the extractives content (r = 0.582), while with the ash content it was negative (-0.575). The high proportions of polysaccharides predict good performance of these species in pulp production, and the calorific value indicates that they have the potential for use as fuel.