A novel ternary eutectic salt, NaNO3-KNO3-Na2SO4 (TMS), was designed and prepared for thermal energy storage (TES) to address the issues of the narrow temperature range and low specific heat of solar salt molten salt. The thermo-physical properties of TMS-2, such as melting point, decomposition temperature, fusion enthalpy, density, viscosity, specific heat capacity and volumetric thermal energy storage capacity (ETES), were determined. Furthermore, a comparison of the thermo-physical properties between commercial solar salt and TMS-2 was carried out. TMS-2 had a melting point 6.5 °C lower and a decomposition temperature 38.93 °C higher than those of solar salt. The use temperature range of TMS molten salt was 45.43 °C larger than that of solar salt, which had been widened about 13.17%. Within the testing temperature range, the average specific heat capacity of TMS-2 (1.69 J·K−1·g−1) was 9.03% higher than that of solar salt (1.55 J·K−1·g−1). TMS-2 also showed higher density, slightly higher viscosity and higher ETES. XRD, FTIR and Raman spectra SEM showed that the composition and structure of the synthesized new molten salt were different, which explained the specific heat capacity increasing. Molecular dynamic (MD) simulation was performed to explore the different macroscopic properties of solar salt and TMS at the molecular level. The MD simulation results suggested that cation–cation and cation–anion interactions became weaker as the temperature increased and the randomness of molecular motion increased, which revealed that the interaction between the cation cluster and anion cluster became loose. The stronger interaction between Na-SO4 cation–anion clusters indicated that TMS-2 molten salt had a higher specific heat capacity than solar salt. The result of the thermal stability analysis indicated that the weight losses of solar salt and TMS-2 at 550 °C were only 27% and 53%, respectively. Both the simulation and experimental study indicated that TMS-2 is a promising candidate fluid for solar power generation systems.