Using paraffin as phase change material (PCM) and expanded graphite as carrier material, paraffin/expanded graphite composite shaped phase change material (cs-PCM) was fabricated by melt blending technique. Phase change gypsum board (PC-GB) was prepared from cs-PCM, building gypsum, fiber, water reducing agent, waterproof agent and retarder according to the calculated mixing ratio at phase change temperature 25.2 °C and latent heat 25.1 J/g, which was suitable for internal temperature adjustment in buildings. Thermal performance test results of PC-GB showed that the heat preservation and insulation effects of PC-GB were 60% and 92.3%, respectively, which were higher than those of ordinary gypsum board (GB) and indoor comfortable temperature range from 25°C to 16°C after using PC-GB remained 275% longer than that for GB. The thermal insulation as well as heat storage and release effects of PC-GB were remarkable. © 2022, Politechnica University of Bucharest. All rights reserved.