In this study beeswax a new energy storage material and its composite with expanded graphite was prepared, and characterized for its surface and thermal properties. Surface characterization showed no chemical interaction between beeswax and expanded graphite.The thermal conductivity of composite was improved with 117% enhancement. Thermal performance of beeswax and its composite as heat storage material was studied in a rectangular shell and tube thermal storage unit. Melting point of the composite remained almost same as that of beeswax however, melting time reduced considerably from 540 min to 360 minutes with inlet water at 80ºC and 2lpm flow rate.