We report the synthesis and characterization of copper oxide (CuO) nanoflakes (Nflks) for thermal conductivity analysis. The synthesized Nflks were used for the preparation of oil‐based and oil blend‐based nanofluids. A dynamic light scattering study was carried out for aqueous suspension of CuO Nflks. The size distribution data show the two peaks emerged at 178.2 ± 31.77 nm and 861.7 ± 248.6 nm. The zeta potential was investigated, and the peak was observed at −46.4 ± 14.3 mV. The average thermal conductivity coefficients were calculated for mineral oil, sunflower oil, and oil blend, which were found to be 0.086, 0.105, and 0.099 W/mK, respectively. Furthermore, thermal conductivity enhancement was calculated, and the maximum percent enhancement was recorded for sunflower oil‐based nanofluid, which was found to be ~20.68% at 0.46 vol%. At similar vol%, the enhancement in thermal conductivity in oil blend‐based and mineral oil‐based nanofluids was found to be 16.14 and 15.73%, respectively. The oil‐based nanofluids are promising in electronics and modern computational devices to minimize the heating effect.