Heat treatments of wood are widely used for the reduction of wood swelling and dimensional instability of wood-cement composites. The effect of natural and heated wood on the hydration of cement at early ages was investigated by isothermal calorimetry, thermogravimetry (TGA) and Fourier transform infrared (FTIR) spectroscopy. The addition of wood strongly delays and inhibits the hydration of the silicate phases. Consequently, the amount of portlandite is lower in composites than in neat cement. Approximately 30% of the inhibition of portlandite precipitation is due to an increase of calcium carbonate content in cement paste. The absorption of a part of water by wood produces a decrease in gypsum consumption. Nevertheless, the ettringite formation is not significantly affected since a diffusion of sulfate ions from wood occurs.