Provided is a strand board with improved strength and water resistance. Reduction in productivity is prevented and characteristics of the strand board can be varied as desired while achieving certain strength and water resistance of the strand board. A strand board B is formed by stacking and laminating five strand layers 1 each formed by a large number of strands 5. The strand board B has substantially constant density distribution in the lamination direction of the strand layers 1. Three of the five strand layers 1 of the strand board B are high-density strand layers 1a having a higher density than the other strand layers 1, and the other strand layers 1 are low-density strand layers 1b.