Calcium hydroxide has drawn a significant attention of current researchers due to its multifunctional applications in the field of biomedical, catalysis, and culture heritage conservation. In this work, the synthesis of calcium hydroxide was done by using the simple chemical precipitation method. The prepared calcium hydroxide was then doped with the three different concentrations e. g., 4, 7 and 10 Wt. % of calcium nitrate. The entire prepared samples were characterized by the XRD (X‐ray diffraction), FESEM (field emission scanning electron microscope), DTA‐TGA (Thermogravimetric analysis‐ Differential thermal analysis), and UV‐Vis spectroscopy techniques. From the X‐ray diffraction results, it was observed that with increase in calcium nitrate doping the crystallites size decreases from 83 nm to 70 nm. The thermal properties also varied as a function of calcium nitrate doping. Further, the UV‐Vis spectroscopy results showed the increase in optical band gap with increase in calcium nitrate doping. These results are explained in terms of structural, microstructural, thermal, and optical band gap characteristics. Finally, the implication of these results in development of a better material for thermochemical energy storage is discussed.