The thermal conductivity and porosity of fiberboard mats are crucial parameters for efficient energy consumption of the hot-pressing process and for final panel quality. In this work, the effect of fiber size and mat density on porosity and thermal conductivity of the mat were investigated. The fiber size was characterized as fine, medium and coarse. The mat porosity was measured by image analysis using the black and white contrast method. The thermal conductivity was determined at different density levels with a temperature gradient of 1.6 °C mm−1 and 7.6% (s = 0.3) moisture content. The results showed that fiber size was a dominant variable governing heat conduction and mat porosity. The mats made with medium size fibers showed a higher resistance to compression. The thermal conductivity of coarse fiber mats decreased drastically between 700 kg m−3 and 810 kg m−3. This was likely due to a higher fracture frequency observed for coarse fibers in comparison to the other fiber sizes studied. Hence, the fine and medium fibers conducted heat more efficiently. Moreover, fiber bundles and fractured fibers were observed during the mat porosity measurements, principally in mats made with fine fiber size.