Phase change materials (PCMs) are regarded as promising candidates for realizing zero‐energy thermal management of electronic devices owing to their high thermal storage capacity and stable working temperature. However, PCM‐based thermal management always suffers from the long‐standing challenges of low thermal conductivity and liquid leakage of PCMs. Herein, a dual‐encapsulation strategy to fabricate highly conductive and liquid‐free phase change composites (PCCs) for thermal management by constructing a polyurethane/graphite nanoplatelets hybrid networks is reported. The PCM of polyethylene glycol (PEG) is first infiltrated into the cross‐linked network of polyurethane (PU) to synthesize hybridized semi‐interpenetrated composites (PEG@PU), and then incorporated with reticulated graphite nanoplatelets (RGNPs) via pressure‐induced assembly to fabricate highly conductive PCCs (PEG@PU‐RGNPs). The hybrid networks enable the PCCs to show excellent mechanical strength, liquid‐free phase change, and stable thermal property. Notably, the dual‐encapsulated PCCs exhibit high thermal and electrical conductivities up to 27.0 W m−1 K−1 and 51.0 S cm−1, superior to the state‐of‐the‐art PEG‐based PCCs. Furthermore, the PCC‐based energy device is demonstrated for efficient battery thermal management toward versatile demands of active preheating at a cold environment and passive cooling at a hot ambient. Overall, this work provides a promising route for fabricating highly conductive and liquid‐free PCCs toward thermal management.