This work analyzes the effect of moisture content on devolatilization times of pine wood particles in a fluidized bed combustor. The devolatilization process was followed by measuring the CO2 and O-2 concentrations obtained after the complete combustion of the volatiles. The devolatilization rate decreased and was more uniform along the devolatilization time as the moisture content of the wood particles increased. The devolatilization times increased almost linearly with moisture, and the slope slightly increased when the bed temperature decreased. The devolatilization times were correlated by a power-law relationship, which related the devolatilization time to the fuel particle diameter and shape factor [t(v) = a(d(p,eq)phi)(n)]. The values of exponent n were between 1.5 and 1.7 and were almost unaffected by the bed temperature or the moisture content. The values of the constant a decreased with increasing the bed temperature and with decreasing the moisture content of the wood particles. To predict the devolatilization times of wood particles as a function of their moisture content, a modification of the power-law relationship is proposed.