Resumo. This study aimed to evaluate the association effect of sugar cane bagasse, type and levels of adhesive in the physical-mechanical properties of particleboards with Pinus spp. wood. The experimental design consisted of a 3x2x3 factorial scheme, with three percentages of substitution pine wood by sugar cane bagasse - 25, 50 and 75%; two types of adhesives ¿ phenol-formaldehyde (PF) and urea-formaldehyde (UF); and three levels of adhesive - 6, 9 and 12%. The cycle of pressing used was 40kgf/cm² pressure, temperature of 160ºC for UF and 180ºC for PF, and for a time of 8 minutes. From the results, it is concluded that: 1) For the percentage of sugar cane bagasse association, in the properties where significant effect was observed, the trend was decrease in panel quality as the amount of sugar cane bagasse increases; 2) The UF adhesive was statistically equal or greater than PF in all evaluated properties; 3) The levels of adhesive showed significant effects for all properties; Except for internal bond property, in all other properties the level of 12% was statistically superior to 6%, and equal or greater than 9%.