The high temperature vaporization pattern of Hg3Te2I2(s,l) shows four distinctly different regimes, similar to those of the HgTe vaporization. The most predominant species in the vapor phase in all four regimes is HgI2(g), followed by Hg(g) and, possibly, Te2I2(g).The width of the “homogeneity range” of Hg3Te2I2(s) was determined to be less than about 0.17 mole‐% HgI2. Applying the second‐law method to the vaporization of HgTe‐saturated Hg3Te2I2(s) at higher temperatures yields the heat and entropy of vaporization of 20.9 ± 2.3 (kcal/mole) and of 27.5 ± 2.8 (cal/mole K), respectively, with estimated total uncertainties of less than ± 5.8 (kcal/mole) and ± 7.6 (cal/mole K), at an average temperature of 722 K. With an estimated heat capacity function of Hg3Te2I2(s) and estimated thermodynamic values for HgI2‐saturated HgTe(s), the heat of formation and absolute entropy of Hg3Te2I2(s) are computed to be ${\rm \Delta}{\rm H}{\rm ^{o}_{298}}_{f}$ = −49.7 ± 1.1 (kcal/mole) and ${\rm \Delta}{\rm H}{\rm ^{o}_{298}}$ = 97.3 ± 1.4 (cal/mole K), with estimated total uncertainties of ± 8.3 (kcal/mole) and ± 14.0 (cal/mole K). The combined results of this investigation provide valuable information for the crystal growth of this material from the vapor and molten phase.