This study employs a novel mathematical formulation of temperature-dependent thermoelastic diffusion with multi-phase delays (TDMT). The TDMT model, which is assumed, is obtained by converting the fundamental rules of Fourier’s and Fick’s laws into higher order time derivatives of the heat flow vector, the temperature gradient, diffusing mass flux, and the chemical potential gradient. Fundamental theorems such as energy, uniqueness, reciprocity theorems, and variational criterion are established using the fundamental equations for the assumed model TDMT. The reciprocity theorem is applied to a particular scenario by using instantaneous concentrated body forces, heat sources, chemical potential sources, and moving heat sources as examples. It is noted that both the variational criterion and these theorems depend on the field variables’ susceptibility as well as the fluctuations in the higher order temporal derivatives’ parameters. Additionally, the assumed model’s two-dimensional (2D) plane wave propagation is described. Three longitudinal waves are identified: the longitudinal (P) wave, the thermal (T) wave, the chemical potential (CP) wave, and the linked transverse (SV) wave. Wave properties (phase velocity and attenuation coefficient) are calculated numerically and shown visually. A few special examples are also investigated and compared with the established findings. The framework for additional research into basic issues in thermoelastic continua under various physical field variables is provided by this work. Numerous applications in material science, geomechanics, soil dynamics, and the electronic sector can be made of the current findings.