In the thermal energy storage system, the thermal properties of phase change materials (PCM) have a great influence on the system performance. In this paper, paraffin-based composite phase change material with different graphite additive (expanded graphite, EG; graphene, GR; and graphene oxide, GO) and different concentrations (0.5 to 2.0%) are manufactured by a two-step method combining mechanical agitation and ultrasonic vibration. The characteristics of charge/discharge processes are studied, and the thermophysical properties are measured by T-history method. The experimental results show that the thermal conductivity and heat charge rate of the composite PCM are effectively improved by adding the graphite additive to the PCM, and the addition of additives can improve the melting point of the material. When the same graphite additive is added, the higher the concentration, the higher the thermal conductivity of the composite PCM, and the latent heat decreases with the increase of concentration. When adding the same amount of carbon additives, the graphene/paraffin composite PCM has the highest heat charge/discharge rate and thermal conductivity. It is finally concluded that graphene is the most promising candidate for heat transfer enhancement of paraffin among three carbon additives even though the EG-based composite PCM gives relatively high latent heat.Processes 2019, 7, 447 2 of 12 carbon-based materials as additives, local and foreign scholars have also conducted in-depth research. Mehrali et al. [18] studied the preparation, characterization, and thermal properties of graphene oxide sheets/paraffin CPCM prepared by vacuum impregnation. The experimental results showed that the latent heat of the CPCM is 63.76 kJ/kg. The thermal conductivity of the new form-stable CPCM had a high increase from 0.305 to 0.985 (W/m·K). Xiao et al. [19] prepared graphite foam/paraffin composite with vacuum assistance. The structure and thermophysical properties of the CPCM were characterized. The results indicated that the thermal conductivity and effusivity of the CPCM are much higher than those of pure paraffin. Xia et al. [20] prepared and characterized an expanded graphite/paraffin CPCM in which the additive amount of expanded graphite (EG) is 0-10% by weight. The test system shows that the heat charge and discharge rate of EG/paraffin composites are greatly improved compared with pure paraffin. Chen et al.[21] prepared a dodecane/expanded graphite CPCM. The experimental results show that the latent heat of the CPCM decreases with the increase of expanded graphite, and the thermal conductivity increases with the mass fraction of the expanded graphite. Kant et al. [22] carried out the numerical investigation for the melting of graphene nanoparticles CPCM. They found that the addition of additive increased the charge rate, but can also hinder the heat convection of the CPCM. Zou et al. [1] found that compared with MWCNT, the addition of graphene has a greater increase in thermal conductivity of CPCM. In addition, the var...