The application of erythritol to medium-temperature latent heat energy storage systems is limited by its low thermal conductivity and large supercooling. Three types of graphite foams (GFs) with different thermal conductivities were used as the porous skeleton for encapsulating erythritol via vacuum impregnation, and the erythritol/GF composites were investigated using different methods to solve the aforementioned problems. The GF pores were effectively filled with erythritol via vacuum impregnation, and the filling rate of erythritol reached more than 90%. The thermal conductivity of the erythritol/GF composites was 73.80, 35.05, and 13.30 W/m·K. The thermal conductivity of the erythritol/GFs was improved by 26–158 times over that of pure erythritol. The subcooling degree of the erythritol/GF composites was reduced from 64.1 °C to 59.4 °C, facilitating the release of latent heat. The erythritol/GF composites had remarkably boosted thermal stability compared with that of pure erythritol. The developed erythritol/GF phase-change composite material exhibits excellent heat transfer and storage properties, and it has broad prospects in the field of phase-change heat storage at intermediate temperatures.