The objective of this study was to design and develop a novel type of modular bamboo-composite wall using bamboo bundle veneer/wood veneer laminated composite (BLVL) with excellent physical and mechanical properties. The physical and mechanical properties of the important component of the bamboo-composite wall, BLVL, were characterized and the thermal insulation properties of three types of walls composed of different thickness of structural layers were studied. The results showed that the physical-mechanical properties of BLVL-composite walls were excellent. For BLVL wall panels, parallel and perpendicular to the glue layer, the static bending strength and elastic modulus were 137.8 MPa and 124.1 MPa vs. 1.37 GPa and 1.06 GPa, respectively. The internal bonding performance of BLVL was 3.07 MPa, 3 times greater than the standard requirement. The total heat transfer coefficients for models І and II of the bamboo-composite walls were 0.46 and 0.43 W/(m2·K), respectively, in line with the requirements of the “Public Building Energy Efficiency Design Standards” GB/T 50189-2005. The development of novel bamboo composite wall and its promotion and application in fabricated buildings have important market prospects and ecological and social values.