As the core material of thermal energy storage technology, phase change materials (PCM) suffer serious leakage problems and slow thermal conductivity in applications. Nanoclay with relatively high specific surface area, high thermal conductivity, and abundant pore structure can successfully compensate for the defects in PCM. However, the ability of nanoclay without further modification to encapsulate the PCM for the preparation of form stable phase change materials (FSPCM) and accelerate their heat transfer is limited. Nanoclay is classified into 1D, 2D, and 3D minerals based on their microscopic morphology. In this review, the specific surface and pore structure of three types of nanoclay and their thermal performance after loading with PCM are summarized and compared. Then, different mineral modification treatments, such as pretreatment, surface modification, structural modulation, and functional assembly, are summarized to investigate the enhancement of thermal performance in nanoclay‐based FSPCM. This review also summarizes the state‐of‐the‐art research progress of emerging nanoclay material‐based FSPCM. Finally, a summary of the traditional applications of mineral‐based FSPCM and an outlook on new applications are presented. This paper will help researchers to better understand the recent developments, performance enhancement strategies of nanoclay‐based FSPCM and to identify potential future research efforts.