Bending stiffness, yield moment, and bending capacity of steel bar-timber composite beam under an environment of wood’s moisture content decreasing were revealed by the drying and loading test, and methods for estimating those have been proposed in this paper. Internal stresses between rebar and glulam timber in the beam, derived from wood drying, did not affect the bending stiffness and capacity, but did only the yield moment similarly to that for temperature rising and wood moisture content decreasing, reported in the previous paper. Also, effects of the internal stress on the allowable moment of the beam in design were revealed.