In this paper, the effect of microstructure on the thermal conductivity of plasma-sprayed Y2O3 stabilized ZrO2 (YSZ) thermal barrier coatings (TBCs) is investigated. Nine freestanding samples deposited on aluminum-base superalloy are studied. Cross-section morphology such as pores, cracks, m-phase content, grain boundary density of the coated samples are examined by scanning electron microscopy (SEM) and electron back-scattered diffraction (EBSD). Multiple linear regressions are used to develop quantitative models which describe the relationship between the particle parameters, m-phase content and the microstructure such as porosity, crack-porosity, the length density of small-angle-crack and the length density of big-angle-crack. Moreover, the relationship between microstructure and thermal conductivity is investigated. Results reveal that the thermal conductivity of the coating is mainly determined by the microstructure and grain boundary density at room temperature (25 ℃) and by the length density of big-angle-crack, monoclinic phase content and grain boundary density at high temperature (1200 ) ℃ .