The use of natural paint for the application to walls and furnishings is now increasing to improve indoor air quality, thereby the natural paint could be a significant source of biogenic volatile organic compounds (BVOCs) in indoor environments. Recent studies have shown that gas-phase reactions between terpenes and ozone can generate sub-micron size particles and toxic volatile organic compounds such as aldehydes and ketones. In this research, we have studied the formation of particles and secondary organic compounds during the reaction of ozone with terpenes emitted from commercial natural paint. The paint applied onto stainless steel was dried and oxidized in a teflon chamber. Two monoterpenes (α- and β-pinenes) were identified by FTIR and GC/MS. Several tests were performed to evaluate the effects of ozone concentration on particle formation. Increased ozone levels significantly affect the increase of particle number concentration (monitored with SMPS), which results in the increase of particle counts ranging from 8,000 to 70,000 particles/㎤. Gas-phase products such as formaldehyde, acetaldehyde, acetone + acrolein, and propionaldehyde were identified during the terpene/ozone reactions by HPLC. These compounds are potential hazardous chemical compounds having harmful health effects to animals and plants. The results obtained from this study provide an insight on the adverse effect of eco-friendly natural product on indoor air quality (IAQ).