In the context of the energy transition, new construction materials are emerging, notably bio-based materials such as wood concrete. This paper investigates the hygrothermal performance of walls constructed with wood–cement concrete. First, the thermal properties of wooden concrete, namely thermal conductivity, effusivity, and diffusivity, are experimentally characterized in both dry and wet conditions. Second, in situ measurements are carried out on a house in Lyon, a city in France, constructed with mono-layered wood–cement walls. This involves monitoring the temperature and relative humidity levels both inside and outside the building, as well as at three distinct positions within the wood walls over a 6-month period (from 20 April 2023 to 20 October 2023). The hygrothermal analysis at the center of the wall reveals that the wood wall effectively moderates fluctuations in the external temperature and relative humidity. Following this, a numerical study is performed to check the reliability of the adopted Reduced Heat, Air, and Mass (HAM) model to reproduce the hygrothermal performance of the wood–cement wall. The results show a strong agreement between the simulated and measured data, confirming the applicability of the ‘Reduced HAM’ model for the prediction of the hygrothermal behavior of wood–cement walls.