Phase change materials (PCMs) are now widely known as potential additives for building insulation materials to provide a thermal mass effect that helps conserve energy and maintain a comfortable indoor temperature. Therefore, the study presented in this paper focuses on an experimental investigation of the specific heat capacity and thermal conductivity of hemp shive mixed with PCMs. Industrially manufactured organic PCM-S50 received from MikroCaps Ltd. (Slovenia) has been used to further enhance respective properties of the product samples. The experimental boards were made from hemp shive by directly mixing 5% encapsulate PCMs into the mass. Cold pressing was used to manufacture the boards with Kleiberit urea formaldehyde resin glue as a binding agent. The experimental boards were made as 25 mm thick single-layer parts with a density of 300 ± 20 kg/m3, which qualify them as low-density boards. By adding nanocapsules during the board manufacturing process, the heat capacity is increased by 62%. Based on the great potential of using latent heat, it becomes a possible solution for the development of new technologies related to the automatic regulation of an indoor microclimate. © 2020 by the authors. Licensee MDPI, Basel, Switzerland.