Due to the hygroscopicity, wood dimensional instability which limits its applications, especially in structural uses. A viable and well-studied solution to counteract this problem is thermal modification treatments. This study aims to evaluate the effect of thermal treatment on the parallel compression strength of Ipe wood and the chemical and physical changes. For this purpose, the thermal treatment was performed using wood specimens of 150 × 50 × 50 mm (l × w × t) and an average moisture content of 10%. The set temperatures and residence time in each stage were determined considering the preestablished drying parameters and the high density of Ipe wood. The treatment was divided into three phases. The equilibrium moisture content (EMC), density, dimensional stability, and compressive strength (fc,0) were determined before and after the thermal treatment. The results of this study indicated that the thermal treatment of Ipe wood resulted in a significant weight loss (WL), averaging a 15.7% difference. The EMC of Ipe wood was statistically different (p-value > 0.0001) before treatment were 10.1% and 2.7% after heat treatment. Before the treatment, the Ipe samples presented an average compressive strength of 102 MPa and 124 MPa afterwards, which means 22% increase. From the results obtained, it is evident that heat treatment has a positive effect on the mechanical properties of wood.