In the development of structural composites based on regenerated cellulose filaments, the physical and chemical interactions at the fibre-matrix interphase need to be fully understood. In the present study, continuous yarns and filaments of viscose (rayon) were treated with either polymeric diphenylmethane diisocyanate (pMDI) or a pMDI-based hardener for polyurethane resins. The effect of isocyanate treatment on mechanical yarn properties was evaluated in tensile tests. A significant decrease in tensile modulus, tensile force and elongation at break was found for treated samples. As revealed by size exclusion chromatography, isocyanate treatment resulted in a significantly reduced molecular weight of cellulose, presumably owing to hydrolytic cleavage caused by hydrochloric acid occurring as an impurity in pMDI. Yarn twist, fibre moisture content and, most significantly, the chemical composition of the isocyanate matrix were identified as critical process parameters strongly affecting the extent of reduction in mechanical performance. To cope with the problem of degradative reactions an additional step using calcium carbonate to trap hydrogen ions is proposed.