Two-dimensional tungsten disulphide (WS2) dispersed oil-based nanofluids are prepared by a two-step process and their stability and thermal properties are assessed. UV–visible spectrophotometry reveals marginal loss in relative absorbance over 15 days ensuring dispersion stability of the nano-additives. Thermal diffusivity of nanofluids is measured using the laser flash analyzer while specific heat capacity is studied by differential scanning calorimetry. The thermal diffusivity coupled with the specific heat capacity of the nanofluids provides an estimate of the thermal conductivity of the prepared nanofluids. Specific heat of the nanofluids is observed to increase with temperature and reduce with an increase in the concentration of the nano-additives. A statistical model is developed to predict the influence of density and temperature on the specific heat of the nanofluids. Higher thermal conductivity in comparison to the base fluid is observed which further enhances with an increment in concentration of the nano-additive. The parameters such as concentration of dispersoid and temperature reveal the effect on the thermal conductivity at elevated temperatures. Enhancement in thermal conductivity is observed between 3–12 % which is validated with an analytical model for thermal conductivity of composite nanofluids.