Paraffin wax (PW) is widely used as a phase change material (PCM) in the thermal energy storage field, whereas the leakage and strong rigidity of PW have hindered its practical applications. In this work, binary melamine foam (MF)/PW blends with simultaneous thermal energy storage and shape memory properties were prepared through vacuum impregnation. Herein, PW performs as a latent heat storage material and as a switching phase for shape fixation and MF serves as a supporting material to prevent the leakage and as a permanent phase for shape recovery. Due to the light weight and super-elasticity of MF, the MF/PW PCMs possess not only good encapsulation ability and a high latent heat, but also excellent shape-fixing and recovery properties (shapefixing and recovery ratios are about 100%). Besides, the MF/PW PCMs can be fabricated into arbitrary shapes using MF as a template, and they exhibit excellent shape memory cyclic performance and thermal reliability. A temperature-sensitive and temperature-controlled deployable panel is further established, which can be installed in the electronic device and used for temperature protection. With high thermal energy storage capability, excellent shape memory properties, shape designability, and stable cycling reliability, this multifunctional MF/PW PCM shows a promising application in thermal energy management systems.