Aqueous dispersion emulsion of phase change paraffin was prepared and mixed into chemical foaming process to prepare phase change foamed concrete. The dry density, compressive strength, volumetric water absorption, thermal insulation property, phase change stability and microcosmic state of phase change foamed concrete were tested by experiments. The results show that the phase change paraffin emulsion has adverse effects on the chemical foaming process and compressive strength of material. Phase change foamed concrete can be stably made when the amount of phase change paraffin emulsion is less than 40% of dry powder in quality. Phase change paraffin is dispersed in foamed concrete matrix in the form of tiny particles. The compressive strength of foamed concrete decreases by 35%~47%, and the volumetric water absorption decreases by 19%~30% when the phase emulsion is 40% of dry powder. Phase change paraffin can improve the thermal insulation property of foamed concrete in a certain temperature range. The phase change stability is good, and the paraffin is difficult to leak.