Scaffold‐based tissue engineering is a promising strategy to address the rapidly growing demand for bone implants, but developing scaffolds with bone extracellular matrix‐like structures, suitable mechanical properties, and multiple biological activities remains a huge challenge. Here, it is aimed to develop a wood‐derived composite scaffold with an anisotropic porous structure, high elasticity, and good antibacterial, osteogenic, and angiogenic activities. First, natural wood is treated with an alkaline solution to obtain a wood‐derived scaffold with an oriented cellulose skeleton and high elasticity, which can not only simulate collagen fiber skeleton in bone tissue but also greatly improve the convenience of clinical implantation. Subsequently, chitosan quaternary ammonium salt (CQS) and dimethyloxalylglycine (DMOG) are further modified on the wood‐derived elastic scaffold through a polydopamine layer. Among them, CQS endows the scaffold with good antibacterial activity, while DMOG significantly improves the scaffold's osteogenic and angiogenic activities. Interestingly, the mechanical characteristics of the scaffolds and the modified DMOG can synergistically enhance the expression of yes‐associated protein/transcriptional co‐activator with PDZ binding motif signaling pathway, thereby effectively promoting osteogenic differentiation. Therefore, this wood‐derived composite scaffold is expected to have potential application in the treatment of bone defects.