The present invention relates to a multifunctional hybrid particle board and a process for manufacturing hybrid unlaminated and laminated green composite particle boards/fibre board and panels with variable density, mechanical strength, thermal conductivity and water absorption with epoxy and polyester resin system under compression moulding machine. Preparation process describe a process to effectively utilise agro-residues/particulates/fibres to avoid its burning and resultant air and environmental pollution. The applications of the fabricated unlaminated and laminated hybrid particle board for use in architectural cladding panels, partition panels, wall panels.