Hot water extraction (HWE) treatment changes the physicochemical properties of the wood, including hygroscopic properties. HWE treatment decreases the hydroxyl accessibility of the wood, but the relevance of other mechanisms that change hygroscopic properties are not fully understood. This study investigates the effect of drying on the hydroxyl accessibility and sorption properties of wood. Pressurized hot water extraction (HWE) treatment was applied at 140 °C for 1–5 h to Scots pine (Pinus sylvestris L.) sapwood samples in order to remove increasingly more hemicellulose from the cell wall matrix. Following HWE treatment, half of the wood samples were oven-dried and then re-soaked, while the other half was kept in a fully saturated state. The samples were investigated by applying a new approach that was based on the deuteration of accessible hydroxyl groups, which was followed by the measurement of mass loss due to re-protonation. Sorption properties of the wood samples were studied by measuring moisture content, sorption isotherms and dimensional changes. The present results showed that accessible hydroxyl group content decreased only due to hemicellulose removal during the HWE treatment and was unaffected by oven-drying. However, oven-drying enhanced the effect of HWE treatments in reducing the water-saturated dimensions and the moisture content of wood. Therefore, the additional reductions in hygroscopicity and water-saturated dimensions were not related to changes in sorption site density.