The effects of multi-walled carbon nanotubes (MWNTs) on the phase change enthalpy (ΔH) and the thermal conductivity (κ) of a solid-liquid phase change materials (PCM), palmitic acid (PA), have been investigated. The results showed that both the ΔH and the κ of the composite were lower than that of PA when the loading of MWNTs was small. As the concentration of MWNTs in the composites increased, the ΔH of the composites was slightly improved and then decreased linearly. However, the κ of the composites was monotonously increased from the minimum value. When the loading of MWNTs increased to 5% and no surfactant was added, the κ of the composite was enhanced to be 26% higher than that of PA. The κ of the composite could be enhanced by CTAB instead of SDBS when the loading of MWNTs was small, as SDBS showed no obvious effect on the κ of the composites. Furthermore, the effects of surface modification of MWNTs on the ΔH and the κ of the composites have also been investigated.