Huaguangjiao I refers to the ancient Chinese wooden shipwreck of the South Song Dynasty (1127-1279 AD) discovered in the South China Sea in 1996. From 2008 to 2017, the archaeological waterlogged wood was desalted using deionized water combined with ultrasonic treatment, and desalted using EDTA-2Na, EDTAHO, and NaHPO·2HO solutions. In this paper, the degree of degradation of the modified waterlogged archaeological wood and the moisture and content of the main components were determined. X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FTIR), nanoindentation (NI), and scanning electron microscopy (SEM) were employed to investigate the state of wood degradation after desalination and desulfurization. The results showed that the water content of the wood was as high as 5321149%, while the basic density was only 0.140.18 g/cm, indicating that the wood had been seriously degraded. The holocellulose content was only 36-40%. Based on the XRD patterns, the degree of cellulose crystallinity in the modified wood was 14.08%. The elastic modulus and hardness of the ancient shipwreck wood after desalination and desulfurization were 1.28-4.31 and 0.10-0.28 GPa, respectively, according to nanoindentation. In addition, the FTIR spectra revealed that the biological deterioration of the modified wood caused cellulose and hemicellulose degradation, but no apparent lignin alteration occurred. The results could provide knowledge for appropriate dewatering, strengthening, and restoration strategies.