Wood is undeniably the most useful and readily available natural raw material. However, the susceptibility of wood products to fire is one of the crucial challenges faced in the wood industry. The fire behaviour of wood is a very complex phenomenon due to the different constituents and their independent reactions to fire. This article presents a thorough overview of the flammability stages of wood. It covers pyrolysis, thermal oxidative decomposition, ignition, combustion and heat release as well as flame extinction mechanisms. In the area of flame retardancy, conventional wood fire retardants, nanocomposites fire retardants and wood modification processes are investigated. Factors such as wood species, moisture content, density, experimental conditions such as external heat flux, heat exposure time, wood permeability and porosity are some of the deterministic parameters characterising the fire behaviour. This paper is a one-stop-shop for researchers analysing wood flammability due to the inclusion of all aspects pertaining to the burning of wood.