This study presents the design and fabrication of a glass fiber–poplar veneer composite plate, investigating how varying interlayer configurations of glass fiber (single- and double-layer) and the arrangement of poplar veneer layers (odd and even) impact the mechanical and thermal insulation characteristics of these composite plates. Compared to plywood made from natural wood, glass fiber significantly improved the properties of fast-growing poplar plywood. The highest impact strength increased by 3.62 times, while the flexural strength increased by 26.22% and the tensile strength by 29.66%. The thermal diffusion coefficient of the experimental group decreased by 40.74%, indicating better insulation. Interestingly, single-layer glass fiber is superior to a double-layer structure in terms of thermal insulation. An optimal interlayer structure was identified, comprising one veneer layer between two layers of glass fiber cloth, repeated three times. Abaqus 2019 was used for finite element analysis (FEA). The simulation results agree with the experimental data to within 5%. These findings confirm the importance of structural configuration in determining the properties of composite materials, providing a theoretical basis for the structural design of fiber–reinforced composite materials.