For new type eucalyptus structural composite lumber（PSL） column, dynamic elastic modulus was determined by nondestructive stress wave, while the static elastic modulus was determined by full scale compression in paralleling to grain. The relationship between the dynamic elastic modulus and the static elastic modulus was investigated. By analyzing stress wave propagation mechanism at diagonal direction, a simplified theoretical model was constructed to calculate the dynamic elastic modulus at diagonal direction. The results indicate that the ratio of dynamic elastic modulus at longitudinal direction to the that at width direction, thickness direction and diagonal direction are about 114, 419 and 17 respectively. At longitudinal direction, dynamic elastic modulus is about 146 times higher than static elastic modulus. Both longitudinal direction and diagonal direction, the ratio of damaged dynamic elastic modulus to undamaged dynamic elastic modulus is about 084. Dynamic elastic modulus of PSL column at diagonal direction depends on the distance component and dynamic elastic modulus at longitudinal direction, width direction, thickness direction.