The unavailability of biodegradable preservatives is one of the major setbacks in the construction industry. With this in mind, our study focused on the analysis and comparison of two hydrophobic liquids, one vegetable oil-based (VOA) and the other mineral oil-based (MOA), and subsequently applying the same on three types of wood. The comparison of the vegetable oil-based (VOA) and mineral oil-based (MOA) hydrophobic liquids revealed that VOA was characterized by an 83.4% susceptibility to aerobic biodegradation, while MOA was considerably more resistant (47.80%). Based on the conducted contact angle measurements, it was observed that the wettability of pine and oak wood decreased after the application of both VOA (for pine—twice; for oak—by 38%) and MOA (for pine—more than two times; for oak—by 49%), while in the case of aspen, the same was increased (after the application of VOA—by 20%; after the application of MOA—by 2%). The observed depth of penetration into the structure of the impregnated wood was lower for the VOA impregnant as compared to the MOA impregnant. This result persisted in all types of wood used in the experiment. Observations of the process of water absorption during soaking revealed that VOA was more beneficial in terms of lowering water absorption into the material, regardless of wood type. The overall results were better for VOA, which lowered the mass of soaked wood by between 19.73 and 66.90%.