At present, research rarely focuses on side effects of the use of mold inhibitors on raw cotton and ramie fabric. Four different mold inhibitors (dimethyl fumarate (DMF), ethyl p-hydroxybenzoate (EHB), propyl p-hydroxybenzoate (PHB), and calcium sorbate (CS)) were used to treat raw cotton and ramie fabric through a dipping method. The optical properties, wettability, thermal conductivity, thermal stability, and combustion properties of treated cotton and ramie samples have been investigated. The reflectance of UV light was improved by the addition of mold inhibitors. In addition, the presence of EHB, PHB, and CS improved the wettability of raw cotton and ramie fabric. It was found that thermal conductivity was slightly increased, influencing the heat insulation effect of the fabrics. Since the additives are flammable, the presence of DMF, EHB, and PHB caused an increase in pHRR and THR for combustion of cotton samples. This addition of CS caused a decrease in pHRR and THR of cotton due to the flame retardancy of CS. This comprehensive investigation of the properties of raw cotton and ramie fabrics treated with these materials should provide a basis for the choice of mold inhibitors.