Timber industries make an essential contribution to economies worldwide, while the sustainable supply of timber generates revenue, supports employment, and contributes to economic activity. The strategic choice of wood species using specific criteria can have substantial economic outcomes for the timber industry in Greece. This study assessed the suitability of hardwood species most commonly used by Greek timber industries. The assessment was conducted with the use of a Multiple-Criteria Decision Analysis approach, taking into consideration specific criteria that affect the quality of timber. According to the findings, walnut was the optimal alternative that outranked the other examined species. Chestnut, oak, beech, ash, and hornbeam also achieved positive scores, and therefore, they are also acceptable alternatives as broadleaved species suitable for furniture manufacturing and sawn timber production. Greek timber industries can enhance their products’ value and market appeal by focusing on species that meet high-quality standards and consumer preferences.