An extensive series of compression tests with birch plywood specimens is conducted in the out‐of‐plane direction. Various experimental conditions are tested with different temperatures and strain rates. To this end, a specially designed Split Hopkinson pressure bar protocol is defined, and the specimen dimensions are validated from quasi‐static EN789 standards experiments. Temperatures are ranging from ambient down to −170°C, while strain rates are increased from 0.004/s up to 700/s. The analysis of the experimental results focuses on the hardening behaviour and the following densification regime at large strains. Evolution with temperature and strain rate of the four coefficients of the stress versus strain curve interpolation is discussed, and models are proposed.