Bamboo and fast-growing wood are sustainable, low-carbon materials that function as forest carbon sinks and can be processed into products that sequester carbon dioxide. Compared with other petrochemical materials, they showed the advantage of low-carbon sustainable development. However, the carbon content of bamboo- and wood-based panels (BWBP) is yet to be systematically quantified. Therefore, this study aimed to determine the carbon content and stock per unit volume of typical BWBP and systematically analyzed the influencing factors. In total 43 typical BWBP were collected from the market, their carbon content was determined using the dry burning method, and the carbon stock per unit volume was calculated. The thermal stability and elemental composition were analyzed by thermogravimetric analysis and X-ray photoelectron spectroscopy. The results indicated that the material used, basic compositional units, and auxiliary materials were important factors affecting the carbon content, with a higher content observed in bamboo-based boards. The highest carbon contents of 53.81% and 50.22% were observed in the hot-pressed deep and shallow carbonized reconstituted bamboo boards, respectively. For the constituent units, a smaller size indicated greater carbon loss and lower carbon content; the highest carbon content of 48.20% was observed in laminated wood, and the lowest in fiberboard (44.08%). Carbon storage is closely related to the density, carbon content, and water content. The carbon storage capacity of the bamboo-based board was generally higher than that of the wood-based board, with the highest (563.72 kg/\({\text{m}}^{3}\)) observed in recombined bamboo and the lowest (181.93 kg/\({\text{m}}^{3}\)) in laminated wood.