VVOCs with a retention range below C6 has become one of the main indoor pollutants that negatively affect human health. Most studies have focused on the emission of VOCs from furniture and decorative materials, seldom considering VVOCs. To close this gap, a 15-L environmental chamber, combined with a multi-absorbent tube, was used for gas sampling. Emissions of VVOCs and odors released from decorative medium-density fiberboard (MDF) were measured using gas chromatography–mass spectrometry and olfactometry detection. The results demonstrated that multi-absorbent tubes had excellent capture capacity for low-molecular-weight VVOCs. Thickness and decorative materials had conspicuous effects on VVOCs and odor emissions. The total VVOCs (TVVOC) from 18-mm decorative MDF was consistently higher than that of 8-mm samples. The major VVOCs from these decorative MDF were alcohols, esters, and ketones, which were the major odor contributors with high odor intensity values. VVOCs concentration generally increased as thickness increased, but it decreased after decorative treatment. Fruity and alcohol-like were the main odor impressions of 8-mm MDF, whereas sweet and fruity were the major odor impressions of 8-mm polyvinyl chloride decorative MDF (PVC-MDF) and melamine-impregnated paper decorative MDF (MI-MDF). Fruity was the main odor impression of 18-mm decorative MDF. The overall odor intensity increased and the major odor impression may differ when the thickness was changed. Both the MI and the PVC decorative materials blocked some odor emissions but did so to a greater extent with the former than with the latter. Identification and analysis of the composition of VVOCs can supplement a database structure network of volatile pollutants and establish a novel and feasible method to investigate low-molecular-weight substances from wooden materials and their products.