Currently, the majority of composite phase change materials (PCM) are only available in solid‐phase environments. Therefore, it is important to prepare composite PCM with photothermal conversion capacity, high thermal conductivity, and stability in both solid and aqueous phase conditions. In this work, a composite PCM with high photothermal conversion storage efficiency (92.6%), high energy storage density (147.6 J/g), and high thermal conductivity (1.19 W/m·K) was prepared using Poly (acrylamide co polyacrylic acid) copolymer (PAAAM) as the supporting material, boron nitride (BN) as the high thermal conductivity filler, and carboxyl‐rich carbon (RHTC) as the photothermal conversion agent and key bridge. With the help of the characteristics of PAAAM, although the PAAAM chain is swollen not broken, it still maintains cross interconnection with PCM in the water‐phase environment, which has excellent encapsulation performance in both the water/solid phase environment. This provides another option for broadening the application of PCM in aqueous solvent conditions.This article is protected by copyright. All rights reserved.