PURPOSE: To provide a bearing wall panel and a construction method for building it which will not reduce the interior area, and by which the strength of a bearing wall panel can be increased by using a plaster board as a wall bed and piping and wiring works from any faces between columns can be conducted.

CONSTITUTION: A bearing wall panel A is formed by fixing four sap materials 5, the total of thicknesses of the four sap materials 5 being equal to the size of the column 2, on both surface and back sides of four saps of a structural plywood 1 formed in such a manner that the lateral width is the same size as the space between the columns 2, and the longitudinal width is the same as the space between the wood 3 of a groundsill and the lying material 4 such as a girder, a beam or the like with fastening means such as nails or the like. The four saps 5 of the bearing wall panel A are fastened on the columns 2 and the lying materials 4 with nails.