Abstract: A novel decorative panel comprises specified rigid decorative sheets replaceably installed on a structural support such as frame works, substrate boards or walls. Such decorative sheets can be readily installed or replaced by the use of removable fixing means such as screws. The decorative sheet is characterized by cutouts at the corners thereof and depressions adjacent to the cutouts. When four decorative sheets are assembled together, the assembled corners of the sheets form a cut-out hole where a fixing means is inserted and a depression around the hole where the head of the fixing means is recessed. By utilizing the heads of fixing means, a variety of decorative accessories or articles can be further set on the decorative panel by means of pins, hooks, rods or magnet pieces.