Abstract: A new type of lightweight plaster with the thermal capacity enhanced by PCM (Phase Change Material) addition is analyzed. The basic physical characteristics, namely the bulk density, matrix density, total open porosity, and pore size distribution are measured at first. For description of mechanical properties, compressive strength measurements are done. The thermal properties are characterized by transient impulse techniques as well as by DSC analysis that enables determination of the specific heat capacity as a function of temperature. The resistivity against the liquid water ingress is described by water absorption coefficient measurement. The experimental results indicate a good capability of the designed plaster to moderate effectively the interior climate of buildings.