Aims of study: Forestry-related companies require quality monitoring methods capable to pass a large number of samples. This review paper is dealing with the utilization of near infrared (NIR) technique for wood analysis. Area of study: We have a global point of view for NIR applications and characterization of different kind of wood species is considered. Material and methods: NIR spectroscopy is a fast, non-destructive technique, applicable to any biological material, demanding little or no sample preparation. NIR spectroscopy and multivariate analysis serve well in laboratories where the conditions are controlled. The main challenges to NIR spectroscopy technique in field conditions are moisture content and portability. Results: In this review, the methods and challenges for successfully applying NIR spectroscopy in the field of wood characterization are presented. Portable equipment need to record NIR spectra with low noise and low sensitivity to temperature and humidity variations of the air in forest environments. Studies concerning the sample preparation effects on the robustness of the calibrations are thus required. Research highlights: This paper examines traditional applications and practical aspects as well as innovative modern adaptations applied, for example, in hyperspectral imaging and genetic studies.