A way very interesting used in the reuse of waste cellulose derivatives such as wood flour is its incorporation into thermoplastics matrix. As the olefinic polymers have no interaction with cellulose derivatives, some chemical treatments have been used in the modification of vegetable fibers, to increase the interfacial adhesion between the cellulosic reinforcement and the polymeric matrix. In this sense, the objective of this study was to evaluate the influence of the methodology of the incorporation of compatibilizer agent (CA) in polyolefin matrix and evaluate the mechanical and morphological properties of composites. HDPE, wood flour from Eucalyptus grandis species (EU) and graftized polyethylene with maleic anhydride (CA) were used in composites, being extruded and after injection molding. The mixtures were processed in a single screw extruder (L/D: 22), with the temperature profile from 170° to 190°C. In a first step, the materials were processed together in the extruder, and after the samples were injected a temperature of 185°C and pressure of 600 bar. In a second step, the HDPE with the compatibilizer agent were first processed in the extruder in order to functionalize the polyolefin, and added after the wood flour (EU) sieved (30% w/w). Results showed that composites with CA had a higher mechanical performance compared to nocompatibilized. Also showed that composites compatibilized previously in the extruder with CA had better performance in comparison to other where the polymer matrix was not previously compatibilized.