The development of new materials to store thermal energy in a passive building system is a must to improve the thermal efficiency by thermal-regulating the indoor temperatures. This fact will deal with the reduction of the gap between energy supply and energy demand to achieve thermal comfort in building indoors. The aim of this work was to test properties of novel PCM/wood composite materials developed at Riga Technical University. Impregnation of PCM (phase change material) in wood increases its thermal mass and regulates temperature fluctuations during day and night. The PCM used are paraffin waxes (RT-21 and RT-27 from Rubitherm) and the wood used was black alder, the most common wood in Latvia. The PCM distribution inside wood sample has been studied as well as its thermophysical, mechanical and fire reaction properties. Developed composite materials are promising in the field of energy saving in buildings.