Here is a little test. Results: readxl::read_xlsx on average is about two times faster than openxlsx::read.xlsx in a different number of rows ( n ) and columns ( p ) using standard settings.

options(scipen=999) # no scientific number format nn <- c(1, 10, 100, 1000, 5000, 10000, 20000, 30000) pp <- c(1, 5, 10, 20, 30, 40, 50) # create some excel files l <- list() # save results tmp_dir <- tempdir() for (n in nn) { for (p in pp) { name <- cat("\n\tn:", n, "p:", p) flush.console() m <- matrix(rnorm(n*p), n, p) file <- paste0(tmp_dir, "/n", n, "_p", p, ".xlsx") # write write.xlsx(m, file) # read elapsed <- system.time( x <- openxlsx::read.xlsx(file) )["elapsed"] df <- data.frame(fun = "openxlsx::read.xlsx", n = n, p = p, elapsed = elapsed, stringsAsFactors = F, row.names = NULL) l <- append(l, list(df)) elapsed <- system.time( x <- readxl::read_xlsx(file) )["elapsed"] df <- data.frame(fun = "readxl::read_xlsx", n = n, p = p, elapsed = elapsed, stringsAsFactors = F, row.names = NULL) l <- append(l, list(df)) } } # results d <- do.call(rbind, l) library(ggplot2) ggplot(d, aes(n, elapsed, color= fun)) + geom_line() + geom_point() + facet_wrap( ~ paste("columns:", p)) + xlab("Number of rows") + ylab("Seconds")