Water wave breaking at the ocean’s surface is a turbulent phenomenon and encompasses a wide range of physical processes such as generation of bubbles/drops with different spatio-temporal scales. In the present study, breaking of periodic waves in deep water regime has been simulated using phase-field lattice Boltzmann method (LBM). Compared to direct Navier–Stokes equation based numerical models, the present LB model is Poisson-free and explicit in time integration. Both the flow field and interface are solved using LBM with two sets of distribution functions. The normalized pressure-velocity formulation is used for the flow field, whereas the conservative Allen–Cahn equation is used to capture the interface. An impulsively started wave approach with Stokes third order wave profile has been used to initiate the breaking process. Through systematic variation of Weber number and initial steepness, the effect of surface tension on the kinematic, geometric, and energy dissipation characteristics has been studied for three breaker types, viz., spilling, weak plunging, and plunging breakers. The results are in good agreement with the past experimental observations and direct numerical simulation. In particular, the obtained breaking strength for different Weber numbers agrees well with the semi-empirical relation used in a wind-wave forecasting models.