The environmental impacts of several scenarios for wood waste’s treatment were studied via life cycle assessment (LCA). The scenarios were modelled via both attributional and consequential approaches to LCA. The ALCA results indicate that producing insulation from wood waste appears to be a good alternative to incineration, whereas incineration outperforms the production of all the other recycled products studied (particle board, composite, bioethanol, biochar, and textile fibre). When the substituting products and marginal energy are considered in the CLCA, other recycled products too seem to show good environmental performance relative to incineration. Textile fibre from wood waste is a solid alternative to producing viscose and cotton, and if marginal energy with even smaller environmental impacts than biomass were used, other products could well become compelling alternatives.