Wood fiberboards are used extensively, mainly in the fields of furniture production, interior fittings, construction, etc. Mineral stone wool materials are used for heat and sound insulation in the construction industry. This study aimed to produce a new hybrid-based composite material by mixing fibers obtained from wood and mineral stone wool. For this purpose, hybrid fiberboards with 50, 40, 30, and 20% stone wool addition and a fiberboard group consisting of 100% pine and beech fibers (control sample) were produced in a hot press using thermoset-based urea formaldehyde and phenol formaldehyde resins. Statistical comparisons of the results were made for values of density, thickness swelling, and water absorption extents after 24 h immersion, bending strength and modulus of elasticity in bending, tensile strength perpendicular to the board surface (internal bond strength), and time to ignition (TTI) analysis. Additionally, percentage of mass loss (PML), average heat release rate (A-HRR), average effective heat of combustion (A-EHC), and mass loss rate (MLR) were studied. The results showed that as the stone wool content in the produced boards increased, the mechanical properties and thickness swelling decreased. The combustion results showed that the combustion resistance of the boards increased with increasing stone wool ratio.