Phase change materials (PCMs) are a kind of materials that provide latent heat at a constant temperature. They have great potential in thermoregulation scopes and thermal energy storage. However, liquid leakage during phase transition restricts their applications in practice severely. In this work, a novel strategy is proposed to prepare form‐stable phase change materials with polyvinyl formal (PVF) foam shape‐stabilized poly (ethylene glycol)‐based material. The PEG exhibits good interfacial compatibility with the PVF framework and the phase transition enthalpy ranges from 104.1 to 158.4 J/g. The PEG/PVF‐C2 increases the residue amount from 0.1% to 4.2% and enhances the thermal degradation temperature at the same time. The mass retention rates of PEG/PVF composites depend on their pore structure, which are 75.4%, 89.5%, and 95.3%, respectively. This study may open a new door for the development of advanced PCMs with good leakage prevention and flame retardancy, thus further contributing to extending the application scopes.