With the growingly serious energy crisis and the dramatically increasing greenhouse gas emission worldwide, thermal energy storage has been attracting extensive attention for its application in re-regeneration energy, which provides a perfect solution to coordinate the mismatch between energy supply and demand. Organic phase change materials are the most widely used materials for thermal energy storage, but the inherent disadvantages drastically impede their further application, such as low thermal conductivity and leakage. Previous research shows that carbon-based scaffold can effectively prevent the leakage during phase transition attributing to the capillary force and the surface tension between the phase change material and the micro-channel surface. The porous structure provides abundant heat transfer areas, and the scaffold itself is perfect heat transfer media. It makes the heat transfer greatly enhanced by combining with carbon-based matrix. This composite shows huge potential for promoting the efficiency of thermal management and energy conversion. This paper gives a state-to-art review about the development of shape-stabilized composite phase change material with carbon-based matrix as the supporting material for organic phase change material including the fabrication and thermal property of the composite phase change material, and the newest application of the composite.