Organic phase change materials (PCMs) have great potential for efficient thermal energy storage and passive thermal management applications due to their non-corrosiveness, high heat storage capacity and stable operating temperature. However, low thermal conductivity and easy leakage seriously restrict the actual application. Meanwhile, heat transfer enhancers typically have a serious negative effect on the heat storage capacity of the PCMs. In this paper, a novel strategy for preparing high performance shape-stable composite phase change materials (CPCMs) is reported, utilizing paraffin wax (PW) as the energy storage material and expanded graphite (EG) as heat transfer enhancers and supporting material, especially in which low melting-point alloy (LMA) micro particles having same phase change temperature as PW are employed with two purposes: one is to provide extra latent heat, and another is to construct a hybrid three-dimensional thermal conduction network in microscale to achieve synergistic thermal conduction with EG. The resulting CPCMs exhibit excellent characteristics in energy storage capacity, thermal conductivity, and thermal cycling stability. The thermal conductivity of ternary CPCM can reach 5.842 W m−1 K−1 when the LMA and EG loading are 4.55 wt% and 9 wt%, which is about 16.4 times higher than that of pure PW, with no obvious volumetric latent heat reduction. This work provides a novel and promising approach for the preparation of CPCMs with high and fast storage properties.