The fastest developed online near-infrared (NIR) spectroscopic system with the speed of 120m/min was applied to predict the quality of wooden veneer, i.e., the stiffness (modulus of elasticity/MOE) and the moisture content (MC) from two species, Japanese cedar (Cryptomeria japonica) and Douglas-fir (Pseudotsuga menziesii). The measurement of MOE was conducted by three-point bending test on air-dry MC (12-13%) and the MC measurement was conducted from 30% to 12%. The root mean square error of crossvalidation (RMSECV) values from MOE prediction for Japanese cedar veneer and Douglasfir veneer are 0.9GPa and 1.8GPa, while the RMSECV values from MC prediction are 1.0% and 0.6% for Japanese cedar veneer and Douglas-fir veneer, respectively. This fast speed of online NIR spectra measurement could give better prediction accuracy and be applied in the plywood production industrial line to increase the efficiency.