The thermal behaviour of Diclofenac was investigated using Differential Scanning Calorimetry, Hot Stage Microscopy, and Thermogravimetric Analysis. A discrepancy was observed between the melting point values recorded under dynamic flow of either dry nitrogen (180C) or air (160C). By means of High Performance Liquid Chromatography/Mass Spectrometric analyses, it has been possible to ascribe this difference in melting points to the formation of three degradation products as a result of intramolecular cyclization and condensation reactions during the heating process in an oxidative atmosphere.