Recent years, the majority of building codes in North America require an energy efficient envelope to improve the building energy efficiency. There are different design strategies to achieve a higher insulation level of the wood framed building envelope, such as increasing the depth of stud cavity to accommodate thicker insulation or adding an exterior insulation while keeping the depth of stud cavity unchanged. However, the highly insulated walls may lead to a higher risk of moisture problems. The deep cavity walls will reduce the temperature of the wood sheathing, which may increase the potential for condensation and mold growth. The exterior insulated walls may result in a low drying capacity of the wood sheathing if the exterior insulation has a low vapour permeance. Although hygrothermal simulations have been widely used to investigate the moisture performance of wood framed walls, the uncertainty of the input parameters may lead to discrepancies between simulation results and real performance of the walls. This paper investigates the hygrothermal performance of highly insulated wood framed walls-deep cavity wall and exterior insulated wall using a stochastic simulation approach. The uncertainties of the input parameters including the material properties, air leakage and rain leakage rates are taken into account in stochastic modelling. The mold growth risks of the walls are evaluated based on the stochastic simulation results.