The purpose of this study was to investigate the relationships among density, moisture content, and modulus of elasticity in which are important characteristics in physical and mechanical properties of woods. In this study, the dynamic MOE was calculated through the combination with resonance frequency of transverse vibration method and density, and the estimated moisture contents were calculated with two different equations (1, 2) in order to compare with experimental moisture contents. The following results from this study were obtained: 1. According to the regression analysis with two different parameters (E and density), the two regression lines appeared to be straight intersecting at 0.6 density. As another factor, moisture contents in wood also influenced on the analysing regression at the below F.S.P. 2. When considering the relationship between moisture contents and E, the tendency of each moisture content and E showed very similar pattern suggesting that moisture contents in addition to density are very important parameter. 3. When together with moisture contents and density as parameters for multiple regression analysis, coefficiences of determinations are dramatically improved. Interestingly, the coefficiences of determinations are further increased when analysing at the below point of F.S.P. and when analysing higher and lower density separately. In summary, more correct estimation of the dynamic MOE of woods can be possible with only transverse vibration and density in wood. Therefore, with this indirect method, the calculation of MOE in all kinds of woods including timber, live tree and wood products can be feasible resulting in accelerating the efficiency of time and labor.