The objective of this study was to establish the correlation between the size of the wood knots and the modulus of elasticity (MOE) and the compressive strength (Fc) in Eucalyptus wood. 156 Eucalyptus urophylla samples with knots were separated into 3 classes (small, medium and large knots), and samples were selected from the same tree and submitted to the parallel fiber compression test for MOE and Fc determination. There was a significant difference between the MOE and Fc of the smaller knot class (Class 1) and the other classes with larger knots (Classes 2 and 3). In general, the larger the knot, the greater the difference between the MOE and Fc. Wood with small knots (8.31 mm2) presents stiffness and strength statistically equal to wood free of defects. Eucalyptus wood stiffness is more sensitive to the presence of knots than the strength when compared to clear wood samples.