In genetic improvement of Hevea brasiliensis (Para rubber tree), development of latex-timber clones (fast growing clones producing more timber in addition to appreciable amount of latex) is a prioroty research area. In this context, it is important to identify wood traits under strong genetic control. Hence, a study was carried out to assess genetic variation and heritability of growth and wood traits and their interactions, using a population of full-sib families and their parents. Parental clones recorded an average girth of 72 cm with maximum in clone RRII 118. Regarding fibre length, the average was 1111 Mm with maximum registered in the same clone. Maximum fibre thickness (28Mm) was recorded in clone PB 28/59. This clone also recorded maximum fibre wall thickness. However, parental clones showed comparatively less variation for specific gravity. Among full-sibs, fibre length was maximum (1214 Mm) in family RRII 105 x PR 107 with an average of 1115 Mm. There was less variation for other fibre traits. However, there was comparatively more variation for specific gravity among the full-sibs with maximum (0.71) registered in family RRIM 600 x Gl 1 with an average of 0.67. Regarding growth, family RRII 105 x RRII 118 showed maximum girth of 91 cm (average, 79 cm) indicating high heterosis for this trait. Overall, the full-sib families exhibited very high variation for growth and selected wood traits. Based on parent-offspring regression, fibre width and fibre wall thickness showed very high heritability estimates of 70 and 50;respectively. While girth (35;) and specific gravity (33;) showed moderate heritability, fibre length showed very low heritability (15;). Moderate to very high estimates of heritability for fibre width, fibre wall thickness, girth and specific gravity indicated that considerable genetic gain can be realized for these traits. Also, strong genetic correlation among the traits indicated scope for indirect selection.