Synthesis of a new chemical compound combining water-repellence of oleic acid and biocidal effect of boric acid linked by ammonia have been followed and validated by fourier transformed infra red (FTIR). This compound named ammonium borate oleate (ABO) has then been studied as a wood preservative. Different molar ratios of oleic acid have been involved in the synthesis of ABO and leachability of those mixes from wood observed according to Japanese industrial standard. The formulation one mole of boric acid and one of ammonia (1 : 1 : 4) for four moles of oleic acid has shown the best efficiency compared to formulations 1 : 1 : 1, 1 : 1 : 2 and 1 : 1 : 3 with about 52% of boron remaining after weathering when other formulations retained respectively 10%, 29% and 46% of boron in the case of an impregnation of Cryptomeria japonica. Seven solutions of 1 : 1 : 4 ABO in ethanol of different concentrations were then produced and sapwood blocks of C. japonica and Fagus crenata were impregnated. A toxicity threshold of around 2.0 kg/m3 for both species was determined in a termite resistance test to Coptotermes formosanus indicating the positive effect of combining water repellent and biocide. Termite mortality recording and microscopic observations complete this study indicating that the action mechanism of ABO is providing a water resistant inner coating.