Phase change materials (PCMs) are widely used in numerous engineering fields because of their good heat storage properties and high latent heat of fusion. However, a big group of them has low thermal conductivity and diffusivity, which poses a problem when it comes to effective and relatively fast heat transfer and accumulation. Therefore, their use is limited to systems that do not need to be heated or cooled rapidly. That is why they are used as thermal energy storage systems in both large scale in power plants and smaller scale in residential facilities. Although, if PCMs are meant to play an important role in electronics cooling, heat dissipation, or temperature stabilization in places where the access to cooling water is limited, such as electric automotive industry or hybrid aviation, a number of modifications and improvements needs to be introduced. Investigation whether additional materials of better thermal properties will affect the thermal properties of PCM is therefore of a big interest. An example of such material is diamond powder, which is a popular additive used in abradants. Its thermal diffusivity and conductivity is significantly higher than for a pure PCM. The article presents the results of an analysis of the effect of diamond powder on thermal conductivity and diffusivity of phase change materials in the case of octadecane.